CarGurus (CARG) Major Shareholder Argonaut 22 Llc Sells 39,755 Shares

CarGurus (NASDAQ:CARG) major shareholder Argonaut 22 Llc sold 39,755 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $32.30, for a total transaction of $1,284,086.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

NASDAQ:CARG opened at $31.97 on Wednesday. The stock has a market capitalization of $3.45 billion and a price-to-earnings ratio of 266.42. CarGurus has a 52 week low of $31.34 and a 52 week high of $31.89.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 3rd. The company reported $0.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $94.15 million. The company’s revenue for the quarter was up 47.3% on a year-over-year basis. equities research analysts forecast that CarGurus will post 0.11 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in CARG. Quantitative Systematic Strategies LLC bought a new position in shares of CarGurus during the 4th quarter valued at approximately $210,000. Arrowstreet Capital Limited Partnership bought a new position in shares of CarGurus during the 4th quarter valued at approximately $271,000. A.R.T. Advisors LLC bought a new position in shares of CarGurus during the 1st quarter valued at approximately $290,000. Skye Global Management LP bought a new position in shares of CarGurus during the 1st quarter valued at approximately $308,000. Finally, Millennium Management LLC bought a new position in shares of CarGurus during the 1st quarter valued at approximately $499,000. 57.39% of the stock is owned by hedge funds and other institutional investors.

CARG has been the subject of several analyst reports. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. Zacks Investment Research lowered shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. ValuEngine lowered shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. Benchmark reiterated a “buy” rating and issued a $44.00 price objective (up previously from $42.00) on shares of CarGurus in a research note on Monday, April 30th. Finally, DA Davidson initiated coverage on shares of CarGurus in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $41.00 price objective for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.80.

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.

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

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