Ismail Elshareef Sells 1,645 Shares of CarGurus (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) insider Ismail Elshareef sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $32.21, for a total value of $52,985.45. Following the completion of the sale, the insider owned 91,822 shares in the company, valued at approximately $2,957,586.62. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

CarGurus Stock Performance

CARG opened at $28.95 on Thursday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 19.69, a PEG ratio of 1.20 and a beta of 1.35. CarGurus, Inc. has a one year low of $24.65 and a one year high of $40.37. The business’s fifty day moving average is $36.23 and its two-hundred day moving average is $35.22.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The business had revenue of $238.70 million during the quarter, compared to the consensus estimate of $234.57 million. During the same quarter in the previous year, the company posted $0.45 EPS. The business’s revenue was up 3.2% on a year-over-year basis. On average, analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On CarGurus

Institutional investors have recently added to or reduced their stakes in the business. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in CarGurus during the second quarter worth about $27,000. Private Wealth Asset Management LLC acquired a new position in shares of CarGurus during the 2nd quarter valued at about $29,000. MAI Capital Management lifted its holdings in shares of CarGurus by 661.0% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after acquiring an additional 1,018 shares during the period. Farther Finance Advisors LLC boosted its position in shares of CarGurus by 71.1% in the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock worth $40,000 after acquiring an additional 443 shares during the last quarter. Finally, Brown Brothers Harriman & Co. acquired a new stake in shares of CarGurus in the third quarter worth approximately $46,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Jefferies Financial Group raised their price target on CarGurus from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, December 11th. Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Citigroup increased their price objective on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $40.86.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.