CarGurus Inc (CARG) Major Shareholder Sells $4,211,000.00 in Stock

CarGurus Inc (NASDAQ:CARG) major shareholder Argonaut 22 Llc sold 100,000 shares of the company’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $42.11, for a total transaction of $4,211,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own more than 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 Friday, October 12th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $42.41, for a total transaction of $4,241,000.00.
  • On Thursday, October 4th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $51.39, for a total transaction of $5,139,000.00.
  • On Tuesday, October 2nd, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $53.17, for a total transaction of $5,317,000.00.
  • On Friday, September 28th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $55.53, for a total transaction of $5,553,000.00.
  • On Wednesday, September 26th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $54.78, for a total transaction of $5,478,000.00.
  • On Monday, September 24th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $52.02, for a total transaction of $5,202,000.00.
  • On Thursday, September 20th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $51.71, for a total transaction of $5,171,000.00.
  • On Tuesday, September 18th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $52.11, for a total transaction of $5,211,000.00.
  • On Friday, September 14th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $52.15, for a total transaction of $5,215,000.00.
  • On Wednesday, September 12th, Argonaut 22 Llc sold 100,000 shares of CarGurus stock. The shares were sold at an average price of $50.98, for a total transaction of $5,098,000.00.

Shares of NASDAQ:CARG opened at $43.48 on Thursday. The firm has a market cap of $6.10 billion and a price-to-earnings ratio of 362.33. CarGurus Inc has a 1-year low of $27.13 and a 1-year high of $57.25.

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

Several analysts recently issued reports on CARG shares. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Benchmark upped their price target on shares of CarGurus from $44.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, August 8th. BidaskClub raised shares of CarGurus from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Finally, JMP Securities raised shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price target on the stock in a report on Wednesday, August 8th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $44.17.

Large investors have recently modified their holdings of the business. First Interstate Bank raised its holdings in shares of CarGurus by 100,560.0% during the second quarter. First Interstate Bank now owns 5,033 shares of the company’s stock worth $175,000 after purchasing an additional 5,028 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of CarGurus during the second quarter worth $205,000. NEXT Financial Group Inc acquired a new stake in shares of CarGurus during the third quarter worth $206,000. NumerixS Investment Technologies Inc acquired a new stake in shares of CarGurus during the second quarter worth $227,000. Finally, Amalgamated Bank acquired a new stake in shares of CarGurus during the second quarter worth $261,000. 63.33% of the stock is currently owned by 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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