CarGurus (NASDAQ:CARG) Director Anastasios Parafestas sold 48,482 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $32.30, for a total transaction of $1,565,968.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
NASDAQ:CARG opened at $32.19 on Friday. The firm has a market capitalization of $3.47 billion and a PE ratio of 268.25. CarGurus has a 1-year low of $31.29 and a 1-year high of $32.72.
CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 3rd. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. The business had revenue of $98.70 million during the quarter, compared to analyst estimates of $94.15 million. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. research analysts forecast that CarGurus will post 0.11 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC acquired a new stake in shares of CarGurus in the first quarter worth $499,000. Verition Fund Management LLC acquired a new stake in shares of CarGurus in the first quarter worth $518,000. The Manufacturers Life Insurance Company increased its stake in shares of CarGurus by 13.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock worth $146,522,000 after acquiring an additional 466,106 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of CarGurus in the first quarter worth $290,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of CarGurus by 55.6% in the first quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock worth $37,327,000 after acquiring an additional 346,567 shares during the period. Hedge funds and other institutional investors own 57.39% of the company’s stock.
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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