CarGurus (NASDAQ:CARG) Director Ian G. Smith sold 5,300 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $35.08, for a total value of $185,924.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of CarGurus traded down $0.43, hitting $35.36, during midday trading on Thursday, according to MarketBeat. The company’s stock had a trading volume of 55,015 shares, compared to its average volume of 479,938. CarGurus has a 12-month low of $25.85 and a 12-month high of $40.60. The company has a market cap of $3.73 billion and a price-to-earnings ratio of 294.67.
CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $94.15 million. The company’s revenue for the quarter was up 47.3% compared to the same quarter last year. research analysts expect that CarGurus will post 0.11 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARG. The Manufacturers Life Insurance Company purchased a new position in CarGurus during the 4th quarter worth $100,212,000. The Manufacturers Life Insurance Company increased its holdings in CarGurus by 13.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock worth $146,522,000 after purchasing an additional 466,106 shares during the period. Lord Abbett & CO. LLC increased its holdings in CarGurus by 55.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock worth $37,327,000 after purchasing an additional 346,567 shares during the period. Abdiel Capital Advisors LP purchased a new position in CarGurus during the 4th quarter worth $7,495,000. Finally, Clearbridge Investments LLC purchased a new position in CarGurus during the 4th quarter worth $6,752,000. Institutional investors own 50.56% of the company’s stock.
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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