Matthew Todd Quinn Sells 3,495 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now directly owns 205,696 shares in the company, valued at approximately $6,053,633.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CarGurus Trading Up 0.8 %

Shares of CarGurus stock opened at $29.29 on Friday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 104.61, a P/E/G ratio of 1.45 and a beta of 1.56. The firm’s 50-day moving average price is $27.76 and its two-hundred day moving average price is $25.36. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $30.99.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The business had revenue of $218.69 million for the quarter, compared to analyst estimates of $214.85 million. As a group, equities research analysts predict that CarGurus, Inc. will post 1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson reissued a “neutral” rating and set a $26.50 price objective on shares of CarGurus in a report on Tuesday, September 10th. B. Riley lifted their price target on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada boosted their price target on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Oppenheimer lifted their target price on shares of CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Needham & Company LLC upped their target price on shares of CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.35.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CARG. CWM LLC grew its holdings in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares in the last quarter. Headlands Technologies LLC bought a new position in CarGurus in the 1st quarter worth approximately $49,000. GAMMA Investing LLC lifted its holdings in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after buying an additional 425 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in CarGurus in the 2nd quarter valued at $87,000. 86.90% of the stock is owned by institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.