CarGurus (CARG) Major Shareholder Sells $9,932,397.70 in Stock

CarGurus (NASDAQ:CARG) major shareholder Argonaut 22 Llc sold 317,329 shares of the firm’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $31.30, for a total transaction of $9,932,397.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

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On Tuesday, May 22nd, Argonaut 22 Llc sold 290,618 shares of CarGurus stock. The stock was sold at an average price of $31.53, for a total transaction of $9,163,185.54. On Friday, May 18th, Argonaut 22 Llc sold 134,498 shares of CarGurus stock. The stock was sold at an average price of $32.18, for a total transaction of $4,328,145.64. On Wednesday, May 16th, Argonaut 22 Llc sold 90,126 shares of CarGurus stock. The stock was sold at an average price of $31.98, for a total transaction of $2,882,229.48. On Monday, May 14th, Argonaut 22 Llc sold 39,755 shares of CarGurus stock. The stock was sold at an average price of $32.30, for a total transaction of $1,284,086.50.

Shares of NASDAQ:CARG traded up $0.37 during mid-day trading on Friday, hitting $31.66. The company had a trading volume of 1,076,307 shares, compared to its average volume of 395,508. The firm has a market capitalization of $3.44 billion and a P/E ratio of 263.83. CarGurus has a one year low of $25.85 and a one year high of $40.60.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 3rd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $98.70 million during the quarter, compared to the consensus estimate of $94.15 million. The company’s quarterly revenue was up 47.3% on a year-over-year basis. equities research analysts anticipate that CarGurus will post 0.11 EPS for the current fiscal year.

CARG has been the subject of several analyst reports. BidaskClub upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a report on Thursday, February 22nd. ValuEngine lowered shares of CarGurus from a “hold” rating to a “sell” rating in a report on Tuesday, May 1st. Zacks Investment Research lowered shares of CarGurus from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Benchmark restated a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of CarGurus in a report on Monday, April 30th. Finally, DA Davidson initiated coverage on shares of CarGurus in a report on Wednesday, April 4th. They set a “neutral” rating and a $41.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. CarGurus has a consensus rating of “Hold” and an average price target of $35.80.

Several large investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in shares of CarGurus in the 1st quarter valued at $499,000. Verition Fund Management LLC bought a new stake in shares of CarGurus in the 1st quarter valued at $518,000. The Manufacturers Life Insurance Company increased its stake in shares of CarGurus by 13.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock valued at $146,522,000 after acquiring an additional 466,106 shares in the last quarter. A.R.T. Advisors LLC bought a new stake in shares of CarGurus in the 1st quarter valued at $290,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of CarGurus by 55.6% in the 1st quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock valued at $37,327,000 after acquiring an additional 346,567 shares in the last quarter. Institutional investors own 50.54% of the company’s stock.

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.

Insider Buying and Selling by Quarter for CarGurus (NASDAQ:CARG)