CarGurus Inc (NASDAQ:CARG) CEO Sells $1,409,306.08 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 36,016 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $39.13, for a total value of $1,409,306.08. Following the sale, the chief executive officer now owns 2,620,208 shares of the company’s stock, valued at $102,528,739.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

  • On Friday, November 15th, Langley Steinert sold 23,945 shares of CarGurus stock. The stock was sold at an average price of $39.33, for a total transaction of $941,756.85.
  • On Wednesday, November 13th, Langley Steinert sold 36,016 shares of CarGurus stock. The stock was sold at an average price of $37.98, for a total transaction of $1,367,887.68.
  • On Monday, November 11th, Langley Steinert sold 36,016 shares of CarGurus stock. The stock was sold at an average price of $38.01, for a total transaction of $1,368,968.16.
  • On Thursday, November 7th, Langley Steinert sold 36,016 shares of CarGurus stock. The shares were sold at an average price of $37.16, for a total transaction of $1,338,354.56.
  • On Thursday, October 10th, Langley Steinert sold 78,272 shares of CarGurus stock. The shares were sold at an average price of $29.33, for a total transaction of $2,295,717.76.
  • On Monday, October 7th, Langley Steinert sold 2,500 shares of CarGurus stock. The shares were sold at an average price of $25.05, for a total transaction of $62,625.00.
  • On Wednesday, October 2nd, Langley Steinert sold 100,040 shares of CarGurus stock. The stock was sold at an average price of $30.95, for a total transaction of $3,096,238.00.
  • On Friday, October 4th, Langley Steinert sold 79,672 shares of CarGurus stock. The stock was sold at an average price of $30.15, for a total transaction of $2,402,110.80.
  • On Wednesday, September 11th, Langley Steinert sold 130,456 shares of CarGurus stock. The shares were sold at an average price of $34.23, for a total transaction of $4,465,508.88.
  • On Friday, September 6th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $33.15, for a total transaction of $3,892,008.90.

Shares of NASDAQ CARG traded down $0.40 during midday trading on Wednesday, reaching $38.91. The stock had a trading volume of 443,332 shares, compared to its average volume of 898,130. The stock has a 50-day moving average of $36.13 and a 200-day moving average of $34.71. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.85 and a current ratio of 2.85. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 68.26, a price-to-earnings-growth ratio of 2.88 and a beta of 1.96. CarGurus Inc has a 12-month low of $28.65 and a 12-month high of $45.25.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.10. CarGurus had a net margin of 7.44% and a return on equity of 18.30%. The firm had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. During the same period last year, the firm earned $0.08 EPS. The company’s revenue was up 26.4% on a year-over-year basis. As a group, analysts forecast that CarGurus Inc will post 0.35 EPS for the current fiscal year.

CARG has been the subject of several analyst reports. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. TheStreet upgraded CarGurus from a “d+” rating to a “c-” rating in a research report on Thursday, November 7th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Thursday, November 7th. Needham & Company LLC started coverage on CarGurus in a report on Thursday, September 12th. They set a “hold” rating for the company. Finally, BidaskClub upgraded CarGurus from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $47.58.

A number of hedge funds have recently modified their holdings of the business. First Trust Advisors LP raised its holdings in CarGurus by 24.4% during the first quarter. First Trust Advisors LP now owns 92,854 shares of the company’s stock valued at $3,720,000 after acquiring an additional 18,225 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of CarGurus in the first quarter valued at about $296,000. SG Americas Securities LLC lifted its position in shares of CarGurus by 415.5% in the second quarter. SG Americas Securities LLC now owns 46,509 shares of the company’s stock valued at $1,679,000 after acquiring an additional 37,487 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of CarGurus in the second quarter worth about $145,000. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of CarGurus by 187.1% in the second quarter. BNP Paribas Arbitrage SA now owns 34,363 shares of the company’s stock worth $1,241,000 after acquiring an additional 22,394 shares during the period. Institutional investors and hedge funds own 79.93% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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