CarGurus Inc (CARG) Major Shareholder Argonaut 22 Llc Sells 100,000 Shares

CarGurus Inc (NASDAQ:CARG) major shareholder Argonaut 22 Llc sold 100,000 shares of CarGurus stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $50.98, for a total value of $5,098,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Argonaut 22 Llc also recently made the following trade(s):

  • On Monday, September 10th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $48.54, for a total value of $4,854,000.00.
  • On Thursday, September 6th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $47.76, for a total value of $4,776,000.00.
  • On Tuesday, September 4th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $49.01, for a total value of $4,901,000.00.
  • On Tuesday, August 28th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $49.89, for a total value of $4,989,000.00.
  • On Friday, August 24th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $49.47, for a total value of $4,947,000.00.
  • On Wednesday, August 22nd, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The stock was sold at an average price of $49.60, for a total value of $4,960,000.00.
  • On Thursday, August 16th, Argonaut 22 Llc sold 27,814 shares of CarGurus stock. The stock was sold at an average price of $50.33, for a total value of $1,399,878.62.
  • On Tuesday, August 14th, Argonaut 22 Llc sold 54,950 shares of CarGurus stock. The stock was sold at an average price of $51.28, for a total value of $2,817,836.00.

Shares of NASDAQ CARG opened at $52.69 on Friday. CarGurus Inc has a 52-week low of $25.85 and a 52-week high of $56.17. The stock has a market capitalization of $5.64 billion and a price-to-earnings ratio of 439.08.

CarGurus (NASDAQ:CARG) last issued its earnings results on Tuesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. CarGurus had a net margin of 10.34% and a return on equity of 12.60%. The firm had revenue of $110.33 million for the quarter, compared to analysts’ expectations of $103.84 million. equities analysts expect that CarGurus Inc will post 0.1 EPS for the current fiscal year.

A number of research firms recently commented on CARG. Benchmark lifted their price target on CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, August 8th. DA Davidson set a $53.00 price target on CarGurus and gave the stock a “buy” rating in a research note on Wednesday, August 8th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Finally, Royal Bank of Canada raised shares of CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a report on Wednesday, August 8th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. CarGurus currently has a consensus rating of “Buy” and an average target price of $44.17.

A number of hedge funds and other institutional investors have recently modified their holdings of CARG. Wells Fargo & Company MN bought a new position in CarGurus in the first quarter worth about $2,629,000. Schwab Charles Investment Management Inc. lifted its holdings in CarGurus by 36.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 27,886 shares of the company’s stock worth $1,073,000 after acquiring an additional 7,468 shares during the last quarter. Northern Trust Corp raised its holdings in shares of CarGurus by 12.8% during the first quarter. Northern Trust Corp now owns 20,129 shares of the company’s stock valued at $775,000 after buying an additional 2,292 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of CarGurus by 321.5% during the first quarter. Franklin Resources Inc. now owns 102,000 shares of the company’s stock valued at $3,924,000 after buying an additional 77,800 shares during the last quarter. Finally, Skye Global Management LP bought a new stake in shares of CarGurus during the first quarter valued at approximately $308,000. 63.29% of the stock is currently 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.

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