CarGurus Inc (CARG) CEO Langley Steinert Sold 176,109 Shares

CarGurus Inc (CARG) CEO Langley Steinert Sold 176,109 Shares

CarGurus Inc (NASDAQ:CARG) CEO Langley Steinert sold 176,109 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $44.10, for a total value of $7,766,406.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

On Tuesday, October 9th, Langley Steinert sold 130,456 shares of CarGurus stock. The shares were sold at an average price of $48.43, for a total value of $6,317,984.08.

On Thursday, October 4th, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $51.41, for a total value of $6,035,842.46.

On Tuesday, October 2nd, Langley Steinert sold 117,406 shares of CarGurus stock. The shares were sold at an average price of $53.19, for a total value of $6,244,825.14.

On Tuesday, September 11th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $49.30, for a total value of $8,682,173.70.

On Thursday, September 6th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $48.16, for a total value of $8,481,409.44.

On Thursday, August 9th, Langley Steinert sold 71,753 shares of CarGurus stock. The shares were sold at an average price of $54.03, for a total value of $3,876,814.59.

On Tuesday, August 7th, Langley Steinert sold 176,109 shares of CarGurus stock. The shares were sold at an average price of $44.82, for a total value of $7,893,205.38.

CARG opened at $42.83 on Tuesday. The stock has a market capitalization of $4.92 billion and a PE ratio of 449.20. CarGurus Inc has a 12 month low of $28.00 and a 12 month high of $57.25.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The firm had revenue of $110.33 million for 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%. As a group, research analysts expect that CarGurus Inc will post 0.1 EPS for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in CarGurus by 12.8% during the 1st quarter. Northern Trust Corp now owns 20,129 shares of the company’s stock valued at $775,000 after purchasing an additional 2,292 shares during the period. NEXT Financial Group Inc purchased a new position in CarGurus during the 3rd quarter valued at about $206,000. CIBC Asset Management Inc purchased a new position in CarGurus during the 3rd quarter valued at about $209,000. Millennium Management LLC increased its holdings in CarGurus by 33.4% during the 2nd quarter. Millennium Management LLC now owns 17,302 shares of the company’s stock valued at $601,000 after purchasing an additional 4,334 shares during the period. Finally, First Interstate Bank increased its holdings in CarGurus by 100,560.0% during the 2nd quarter. First Interstate Bank now owns 5,033 shares of the company’s stock valued at $175,000 after purchasing an additional 5,028 shares during the period. Hedge funds and other institutional investors own 63.35% of the company’s stock.

A number of equities research analysts have weighed in on the company. BidaskClub downgraded CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. ValuEngine upgraded CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Benchmark lifted their price objective on CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, DA Davidson set a $53.00 price objective on CarGurus and gave the stock a “buy” rating in a report on Wednesday, August 8th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $44.17.

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.

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