Samuel Zales Sells 10,000 Shares of CarGurus (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $36.50, for a total value of $365,000.00. Following the transaction, the chief operating officer owned 465,349 shares in the company, valued at $16,985,238.50. This trade represents a 2.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Price Performance

NASDAQ:CARG opened at $34.77 on Wednesday. The business has a 50 day moving average of $35.55 and a 200 day moving average of $33.26. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 1.27 and a beta of 1.17. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $41.22.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $250.97 million during the quarter, compared to analyst estimates of $249.85 million. CarGurus had a return on equity of 62.88% and a net margin of 18.06%.CarGurus’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 2.17 EPS for the current year.

Wall Street Analysts Forecast Growth

CARG has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of CarGurus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Citigroup upped their price target on shares of CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. JPMorgan Chase & Co. raised their price objective on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Needham & Company LLC lifted their price objective on CarGurus from $43.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Convergence Investment Partners LLC bought a new stake in CarGurus in the 4th quarter worth $3,742,000. Bank of America Corp DE increased its position in shares of CarGurus by 26.6% in the first quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock valued at $19,965,000 after acquiring an additional 123,364 shares during the period. Westover Capital Advisors LLC bought a new position in shares of CarGurus during the fourth quarter valued at about $1,912,000. Louisiana State Employees Retirement System bought a new position in shares of CarGurus during the first quarter valued at about $1,226,000. Finally, Lazard Asset Management LLC boosted its holdings in shares of CarGurus by 180.8% during the first quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock worth $15,182,000 after purchasing an additional 287,067 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

About CarGurus

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.