Insider Selling: CarGurus Inc (NASDAQ:CARG) CEO Sells $257,168.52 in Stock

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 12,006 shares of the company’s stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $21.42, for a total value of $257,168.52. Following the completion of the transaction, the chief executive officer now owns 872,820 shares of the company’s stock, valued at $18,695,804.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

  • On Monday, October 12th, Langley Steinert sold 25,986 shares of CarGurus stock. The stock was sold at an average price of $22.23, for a total value of $577,668.78.
  • On Thursday, October 8th, Langley Steinert sold 38,979 shares of CarGurus stock. The shares were sold at an average price of $22.64, for a total value of $882,484.56.
  • On Monday, October 5th, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $22.47, for a total value of $269,774.82.
  • On Friday, October 2nd, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $22.01, for a total value of $264,252.06.
  • On Tuesday, September 29th, Langley Steinert sold 25,986 shares of CarGurus stock. The shares were sold at an average price of $21.73, for a total value of $564,675.78.
  • On Friday, September 25th, Langley Steinert sold 25,986 shares of CarGurus stock. The shares were sold at an average price of $22.11, for a total value of $574,550.46.
  • On Wednesday, September 23rd, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $23.26, for a total value of $279,259.56.
  • On Monday, September 21st, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $22.66, for a total value of $272,055.96.
  • On Friday, September 18th, Langley Steinert sold 12,006 shares of CarGurus stock. The shares were sold at an average price of $23.65, for a total value of $283,941.90.
  • On Wednesday, September 16th, Langley Steinert sold 12,468 shares of CarGurus stock. The stock was sold at an average price of $24.56, for a total value of $306,214.08.

CarGurus stock opened at $22.10 on Friday. The company’s 50-day moving average price is $23.07 and its two-hundred day moving average price is $24.06. CarGurus Inc has a twelve month low of $14.25 and a twelve month high of $40.91. The stock has a market cap of $2.50 billion, a P/E ratio of 58.16, a P/E/G ratio of 2.12 and a beta of 1.86.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.18. The business had revenue of $94.70 million for 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 last year, the business posted $0.10 EPS. As a group, equities analysts forecast that CarGurus Inc will post 0.33 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its stake in CarGurus by 2.4% during the second quarter. Arizona State Retirement System now owns 18,685 shares of the company’s stock worth $474,000 after buying an additional 437 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in CarGurus by 1.3% in the second quarter. Envestnet Asset Management Inc. now owns 35,449 shares of the company’s stock worth $899,000 after purchasing an additional 452 shares during the period. Amalgamated Bank grew its holdings in CarGurus by 3.6% in the second quarter. Amalgamated Bank now owns 13,825 shares of the company’s stock worth $350,000 after purchasing an additional 484 shares during the period. Ameritas Investment Partners Inc. grew its holdings in shares of CarGurus by 14.6% during the second quarter. Ameritas Investment Partners Inc. now owns 7,630 shares of the company’s stock valued at $193,000 after buying an additional 970 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in shares of CarGurus by 7.0% during the second quarter. Raymond James Trust N.A. now owns 15,299 shares of the company’s stock valued at $388,000 after buying an additional 996 shares during the last quarter. 79.73% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently commented on CARG shares. BTIG Research cut CarGurus from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Piper Sandler started coverage on CarGurus in a report on Monday, July 27th. They set a “neutral” rating and a $27.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of CarGurus in a report on Friday, August 7th. Zacks Investment Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Finally, ValuEngine downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. CarGurus has a consensus rating of “Hold” and a consensus target price of $29.30.

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.

Recommended Story: What is intrinsic value?

Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.