CarGurus (CARG) CEO Langley Steinert Sells 117,406 Shares of Stock

CarGurus (NASDAQ:CARG) CEO Langley Steinert sold 117,406 shares of the business’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $31.48, for a total transaction of $3,695,940.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Langley Steinert also recently made the following trade(s):

  • On Friday, May 18th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $32.22, for a total transaction of $3,782,821.32.
  • On Wednesday, May 16th, Langley Steinert sold 117,406 shares of CarGurus stock. The stock was sold at an average price of $31.98, for a total transaction of $3,754,643.88.

NASDAQ:CARG traded down $0.61 during trading hours on Thursday, hitting $31.27. The stock had a trading volume of 26,416 shares, compared to its average volume of 696,069. CarGurus has a one year low of $25.85 and a one year high of $40.60. The company has a market capitalization of $3.35 billion and a PE ratio of 261.50.



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

A number of equities research analysts recently weighed in on CARG shares. Benchmark started coverage on shares of CarGurus in a research note on Thursday, March 22nd. They set a “buy” rating and a $42.00 price target for the company. Zacks Investment Research downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, March 6th. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Thursday, February 22nd. DA Davidson assumed coverage on shares of CarGurus in a research note on Wednesday, April 4th. They set a “neutral” rating and a $41.00 price target for the company. Finally, ValuEngine downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. CarGurus currently has an average rating of “Hold” and a consensus price target of $35.80.

Large investors have recently modified their holdings of the business. Quantitative Systematic Strategies LLC bought a new stake in CarGurus in the fourth quarter valued at approximately $210,000. Arrowstreet Capital Limited Partnership bought a new stake in CarGurus in the fourth quarter valued at approximately $271,000. A.R.T. Advisors LLC bought a new stake in CarGurus in the first quarter valued at approximately $290,000. Skye Global Management LP bought a new stake in CarGurus in the first quarter valued at approximately $308,000. Finally, Millennium Management LLC acquired a new position in shares of CarGurus in the first quarter valued at approximately $499,000. 50.54% of the stock is owned by hedge funds and other institutional investors.

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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