Insider Selling: CarGurus (CARG) Major Shareholder Sells $1,284,086.50 in Stock

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

Argonaut 22 Llc also recently made the following trade(s):

  • On Wednesday, May 16th, Argonaut 22 Llc sold 90,126 shares of CarGurus stock. The shares were sold at an average price of $31.98, for a total value of $2,882,229.48.

Shares of CarGurus stock opened at $32.19 on Friday. CarGurus has a twelve month low of $31.29 and a twelve month high of $32.72. The stock has a market capitalization of $3.47 billion and a P/E ratio of 268.25.

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

Several institutional investors have recently made changes to their positions in the stock. Spinnaker Capital LLC purchased a new position in shares of CarGurus in the 4th quarter valued at about $410,972,000. Bollard Group LLC purchased a new position in shares of CarGurus in the 4th quarter valued at about $318,223,000. The Manufacturers Life Insurance Company increased its stake in shares of CarGurus by 13.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock valued at $146,522,000 after purchasing an additional 466,106 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in shares of CarGurus by 55.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock valued at $37,327,000 after purchasing an additional 346,567 shares in the last quarter. Finally, Abdiel Capital Advisors LP purchased a new position in shares of CarGurus in the 4th quarter valued at about $7,495,000. Hedge funds and other institutional investors own 57.39% of the company’s stock.

A number of equities analysts have weighed in on CARG shares. BidaskClub upgraded CarGurus from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Zacks Investment Research lowered CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. Benchmark started coverage on CarGurus in a research note on Thursday, March 22nd. They set a “buy” rating and a $42.00 price objective for the company. DA Davidson started coverage on CarGurus in a research note on Wednesday, April 4th. They set a “neutral” rating and a $41.00 price objective for the company. Finally, ValuEngine lowered CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.80.

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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