CarGurus Inc (CARG) Director Sells $5,881,200.00 in Stock

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CarGurus Inc (NASDAQ:CARG) Director Anastasios Parafestas sold 120,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $49.01, for a total value of $5,881,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Anastasios Parafestas also recently made the following trade(s):

  • On Thursday, August 30th, Anastasios Parafestas sold 102,442 shares of CarGurus stock. The stock was sold at an average price of $49.66, for a total value of $5,087,269.72.
  • On Tuesday, August 28th, Anastasios Parafestas sold 120,000 shares of CarGurus stock. The stock was sold at an average price of $49.89, for a total value of $5,986,800.00.

NASDAQ CARG traded down $1.27 during trading on Wednesday, hitting $47.83. 727,900 shares of the company traded hands, compared to its average volume of 618,492. CarGurus Inc has a 12 month low of $25.85 and a 12 month high of $56.17. The firm has a market cap of $5.40 billion and a P/E ratio of 409.17.

CarGurus (NASDAQ:CARG) last posted its earnings results on Tuesday, August 7th. The company reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. The company had revenue of $110.33 million for the quarter, compared to analyst estimates of $103.84 million. analysts forecast that CarGurus Inc will post 0.1 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC raised its holdings in CarGurus by 99.4% during the second quarter. FMR LLC now owns 9,982,100 shares of the company’s stock valued at $346,778,000 after buying an additional 4,975,737 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in CarGurus by 13.9% during the first quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock valued at $146,522,000 after buying an additional 466,106 shares in the last quarter. BlackRock Inc. raised its holdings in CarGurus by 116,567.5% during the second quarter. BlackRock Inc. now owns 2,625,019 shares of the company’s stock valued at $91,193,000 after buying an additional 2,622,769 shares in the last quarter. Lord Abbett & CO. LLC raised its holdings in CarGurus by 55.6% during the first quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock valued at $37,327,000 after buying an additional 346,567 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in CarGurus by 877.9% during the second quarter. Bank of America Corp DE now owns 681,579 shares of the company’s stock valued at $23,678,000 after buying an additional 611,878 shares in the last quarter. Institutional investors own 63.29% of the company’s stock.

Several analysts recently issued reports on CARG shares. BidaskClub upgraded CarGurus from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Benchmark increased their price objective on CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. DA Davidson set a $53.00 price objective on CarGurus and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Thursday, August 2nd. Finally, ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.17.

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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