Langley Steinert Sells 130,456 Shares of CarGurus Inc (CARG) Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 130,456 shares of CarGurus stock in a transaction that occurred on Thursday, January 10th. The shares were sold at an average price of $35.32, for a total value of $4,607,705.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Langley Steinert also recently made the following trade(s):

  • On Monday, January 7th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $33.51, for a total value of $3,934,275.06.
  • On Thursday, January 3rd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $32.65, for a total value of $3,833,305.90.
  • On Tuesday, December 11th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $35.08, for a total value of $4,118,602.48.
  • On Friday, December 7th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $36.15, for a total value of $4,244,226.90.
  • On Tuesday, December 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $37.50, for a total value of $4,402,725.00.
  • On Friday, November 9th, Langley Steinert sold 71,753 shares of CarGurus stock. The shares were sold at an average price of $43.39, for a total value of $3,113,362.67.
  • On Wednesday, November 7th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $41.55, for a total value of $4,878,219.30.
  • On Monday, November 5th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $44.10, for a total value of $7,766,406.90.

CARG opened at $36.08 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 300.67, a PEG ratio of 38.94 and a beta of 1.74. CarGurus Inc has a one year low of $28.52 and a one year high of $57.25.

CarGurus (NASDAQ:CARG) last posted its earnings results on Wednesday, November 7th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $119.04 million for the quarter, compared to the consensus estimate of $112.70 million. CarGurus had a return on equity of 9.82% and a net margin of 11.78%. CarGurus’s quarterly revenue was up 43.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. As a group, equities analysts predict that CarGurus Inc will post 0.13 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CARG. Cubist Systematic Strategies LLC acquired a new position in shares of CarGurus in the second quarter worth $205,000. NEXT Financial Group Inc acquired a new position in shares of CarGurus in the third quarter worth $206,000. CIBC Asset Management Inc acquired a new position in shares of CarGurus in the third quarter worth $209,000. LPL Financial LLC acquired a new position in shares of CarGurus in the third quarter worth $234,000. Finally, United Services Automobile Association acquired a new position in shares of CarGurus in the third quarter worth $240,000. 68.67% of the stock is owned by institutional investors.

CARG has been the topic of a number of analyst reports. BidaskClub downgraded CarGurus from a “buy” rating to a “hold” rating in a research note on Saturday, October 13th. SunTrust Banks initiated coverage on CarGurus in a research note on Monday, November 19th. They issued a “buy” rating and a $49.00 price target on the stock. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research note on Wednesday, November 14th. Royal Bank of Canada lifted their price target on CarGurus from $55.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, November 8th. Finally, ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. CarGurus presently has a consensus rating of “Buy” and a consensus target price of $49.00.

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About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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