CarGurus Inc (CARG) Director Ian G. Smith Sells 6,650 Shares

CarGurus Inc (NASDAQ:CARG) Director Ian G. Smith sold 6,650 shares of the stock in a transaction that occurred on Wednesday, July 25th. The stock was sold at an average price of $38.93, for a total value of $258,884.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of CarGurus opened at $51.87 on Friday, MarketBeat.com reports. The company has a market capitalization of $5.90 billion and a PE ratio of 546.40. CarGurus Inc has a 52 week low of $25.85 and a 52 week high of $56.17.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $110.33 million during the quarter, compared to the consensus estimate of $103.84 million. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. equities research analysts predict that CarGurus Inc will post 0.1 EPS for the current year.

CARG has been the topic of several recent research reports. Benchmark increased their price target on CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. DA Davidson upgraded CarGurus from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, May 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded CarGurus from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, August 2nd. BidaskClub upgraded CarGurus from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Finally, JMP Securities raised CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price objective for the company in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.17.

Institutional investors have recently modified their holdings of the company. Geode Capital Management LLC purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $5,533,000. Franklin Resources Inc. purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $726,000. Two Sigma Investments LP purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $1,024,000. Macquarie Group Ltd. purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $1,137,000. Finally, Wells Fargo & Company MN purchased a new stake in shares of CarGurus during the first quarter valued at approximately $2,629,000. 48.27% of the stock is owned by hedge funds and other institutional investors.

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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