CarGurus Inc (NASDAQ:CARG) Director Ian G. Smith sold 101,400 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $49.88, for a total transaction of $5,057,832.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Shares of NASDAQ:CARG traded up $0.15 during trading hours on Monday, hitting $50.15. 802,400 shares of the company’s stock traded hands, compared to its average volume of 610,174. CarGurus Inc has a 52 week low of $25.85 and a 52 week high of $56.17. The firm has a market cap of $5.60 billion and a price-to-earnings ratio of 417.50.
CarGurus (NASDAQ:CARG) last announced its earnings results on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. CarGurus had a net margin of 10.34% and a return on equity of 12.60%. The company had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $103.84 million. equities analysts forecast that CarGurus Inc will post 0.1 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. First Interstate Bank boosted its holdings in shares of CarGurus by 100,560.0% in the second quarter. First Interstate Bank now owns 5,033 shares of the company’s stock worth $175,000 after buying an additional 5,028 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of CarGurus in the second quarter worth about $205,000. NumerixS Investment Technologies Inc acquired a new position in shares of CarGurus in the second quarter worth about $227,000. Amalgamated Bank acquired a new position in shares of CarGurus in the second quarter worth about $261,000. Finally, A.R.T. Advisors LLC acquired a new position in shares of CarGurus in the first quarter worth about $290,000. Institutional investors own 48.88% of the company’s stock.
Several research firms have recently weighed in on CARG. Benchmark raised their price objective on shares of CarGurus from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, August 8th. Zacks Investment Research lowered shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. DA Davidson set a $53.00 price objective on shares of CarGurus and gave the company a “buy” rating in a research report on Wednesday, August 8th. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Finally, Royal Bank of Canada upgraded shares of CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $44.17.
CarGurus Company Profile
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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