CarGurus Inc (NASDAQ:CARG) CEO Sells $289,704.78 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 12,006 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $24.13, for a total transaction of $289,704.78. Following the transaction, the chief executive officer now owns 1,132,247 shares in the company, valued at $27,321,120.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Thursday, September 10th, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $23.57, for a total transaction of $282,981.42.
  • On Tuesday, September 8th, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $22.80, for a total transaction of $273,736.80.
  • On Friday, September 4th, Langley Steinert sold 25,986 shares of CarGurus stock. The stock was sold at an average price of $23.53, for a total transaction of $611,450.58.
  • On Wednesday, September 2nd, Langley Steinert sold 36,475 shares of CarGurus stock. The stock was sold at an average price of $24.82, for a total transaction of $905,309.50.
  • On Monday, August 24th, Langley Steinert sold 4 shares of CarGurus stock. The stock was sold at an average price of $27.32, for a total transaction of $109.28.
  • On Friday, August 21st, Langley Steinert sold 51,970 shares of CarGurus stock. The stock was sold at an average price of $27.27, for a total transaction of $1,417,221.90.
  • On Wednesday, August 19th, Langley Steinert sold 24,011 shares of CarGurus stock. The stock was sold at an average price of $27.19, for a total transaction of $652,859.09.
  • On Monday, August 17th, Langley Steinert sold 24,011 shares of CarGurus stock. The stock was sold at an average price of $26.92, for a total transaction of $646,376.12.
  • On Thursday, August 13th, Langley Steinert sold 51,970 shares of CarGurus stock. The stock was sold at an average price of $27.97, for a total transaction of $1,453,600.90.
  • On Monday, August 10th, Langley Steinert sold 24,011 shares of CarGurus stock. The stock was sold at an average price of $28.60, for a total transaction of $686,714.60.

Shares of CARG traded up $0.48 during trading hours on Wednesday, reaching $24.33. 1,603,357 shares of the company traded hands, compared to its average volume of 1,706,669. The stock’s fifty day moving average is $26.37 and its 200 day moving average is $23.94. The stock has a market cap of $2.75 billion, a P/E ratio of 64.03, a price-to-earnings-growth ratio of 2.39 and a beta of 1.85. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.01 and a current ratio of 5.01. CarGurus Inc has a 1-year low of $14.25 and a 1-year high of $40.91.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.18. The business had revenue of $94.70 million during the quarter, compared to analyst estimates of $86.55 million. CarGurus had a net margin of 7.73% and a return on equity of 18.56%. The firm’s revenue for the quarter was down 34.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.10 earnings per share. On average, equities research analysts predict that CarGurus Inc will post 0.33 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in CarGurus by 7.3% in the second quarter. Vanguard Group Inc. now owns 7,735,746 shares of the company’s stock worth $196,100,000 after purchasing an additional 525,598 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of CarGurus by 1.1% during the first quarter. The Manufacturers Life Insurance Company now owns 7,235,895 shares of the company’s stock worth $137,048,000 after buying an additional 78,344 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of CarGurus by 16.8% during the first quarter. Wellington Management Group LLP now owns 6,628,972 shares of the company’s stock worth $125,554,000 after buying an additional 953,108 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in shares of CarGurus by 56.3% during the second quarter. Dragoneer Investment Group LLC now owns 5,691,167 shares of the company’s stock worth $144,271,000 after buying an additional 2,050,262 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of CarGurus by 265,982.9% during the second quarter. FMR LLC now owns 3,443,113 shares of the company’s stock worth $87,283,000 after buying an additional 3,441,819 shares in the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently issued reports on CARG. Oppenheimer started coverage on shares of CarGurus in a report on Thursday, July 16th. They issued a “buy” rating and a $31.00 price objective for the company. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a report on Wednesday, August 12th. Needham & Company LLC restated a “hold” rating on shares of CarGurus in a report on Friday, August 7th. JMP Securities upped their price target on shares of CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, June 18th. Finally, DA Davidson restated a “buy” rating and set a $31.00 price target on shares of CarGurus in a report on Monday, June 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $29.70.

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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