CarGurus Inc (NASDAQ:CARG) VP Sarah Amory Welch sold 7,500 shares of CarGurus stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $37.07, for a total transaction of $278,025.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ CARG opened at $37.77 on Friday. CarGurus Inc has a 52 week low of $25.85 and a 52 week high of $40.60.
Get CarGurus alerts:CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $98.70 million for the quarter, compared to analyst estimates of $94.15 million. The company’s revenue was up 47.3% on a year-over-year basis. equities research analysts forecast that CarGurus Inc will post 0.11 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. Amalgamated Bank acquired a new position in CarGurus during the 2nd quarter worth approximately $261,000. Millennium Management LLC acquired a new position in CarGurus during the 1st quarter worth approximately $499,000. Verition Fund Management LLC acquired a new position in CarGurus during the 1st quarter worth approximately $518,000. The Manufacturers Life Insurance Company grew its holdings in CarGurus by 13.9% during the 1st 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 in the last quarter. Finally, A.R.T. Advisors LLC acquired a new position in CarGurus during the 1st quarter worth approximately $290,000. Institutional investors own 50.56% of the company’s stock.
A number of brokerages recently weighed in on CARG. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Benchmark reiterated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of CarGurus in a report on Monday, April 30th. DA Davidson upgraded 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. Finally, ValuEngine cut shares of CarGurus from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. CarGurus currently has a consensus rating of “Hold” and an average price target 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.
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