CarGurus (NASDAQ:CARG) Shares Down 4.6%

CarGurus, Inc. (NASDAQ:CARG)’s stock price fell 4.6% during trading on Wednesday . The stock traded as low as $24.16 and last traded at $24.33. 1,339,342 shares changed hands during trading, an increase of 42% from the average session volume of 943,658 shares. The stock had previously closed at $25.49.

Analyst Ratings Changes

Several research firms have issued reports on CARG. DA Davidson boosted their price objective on CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, May 13th. JMP Securities upgraded CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 price target for the company in a report on Friday, June 7th. Needham & Company LLC boosted their price target on CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Citigroup increased their price objective on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, UBS Group upped their price target on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average target price of $26.41.

CarGurus Price Performance

The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 86.89, a price-to-earnings-growth ratio of 1.52 and a beta of 1.57. The firm’s fifty day moving average is $24.30 and its 200-day moving average is $23.56.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The company had revenue of $215.80 million for the quarter, compared to analysts’ expectations of $217.29 million. As a group, equities research analysts anticipate that CarGurus, Inc. will post 0.98 EPS for the current year.

Insiders Place Their Bets

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, COO Samuel Zales sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $25.00, for a total transaction of $750,000.00. Following the transaction, the chief operating officer now directly owns 518,845 shares of the company’s stock, valued at approximately $12,971,125. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the transaction, the general counsel now directly owns 102,130 shares of the company’s stock, valued at $2,553,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 72,016 shares of company stock valued at $1,732,378. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC purchased a new position in shares of CarGurus during the 4th quarter worth $32,000. Acadian Asset Management LLC bought a new position in CarGurus in the 3rd quarter worth approximately $32,000. Headlands Technologies LLC purchased a new position in CarGurus during the first quarter valued at $49,000. Daiwa Securities Group Inc. purchased a new position in shares of CarGurus in the fourth quarter valued at $65,000. Finally, EntryPoint Capital LLC lifted its holdings in shares of CarGurus by 358.2% in the 1st quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock valued at $106,000 after acquiring an additional 3,593 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

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.