CarGurus (CARG) Director Sells $1,565,968.60 in Stock

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.

A number of research analysts have issued reports on CARG shares. DA Davidson raised shares of CarGurus from a “neutral” rating to a “buy” rating and set a $41.00 price target for the company in a report on Tuesday, May 1st. They noted that the move was a valuation call. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Benchmark started coverage on shares of CarGurus in a report on Thursday, March 22nd. They issued a “buy” rating and a $42.00 price target for the company. Finally, BidaskClub raised shares of CarGurus from a “sell” rating to a “hold” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $35.80.

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.

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.

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

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