CarGurus Inc (NASDAQ:CARG) major shareholder Argonaut 22 Llc sold 100,000 shares of the firm’s stock in a transaction on 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 SEC, which is accessible through the SEC website. Large 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):

  • 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.

NASDAQ:CARG traded down $0.05 during mid-day trading on Friday, hitting $52.48. The company had a trading volume of 20,349 shares, compared to its average volume of 806,752. CarGurus Inc has a 1 year low of $25.85 and a 1 year high of $56.17. The firm has a market capitalization of $5.64 billion and a PE ratio of 436.17.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. The company had revenue of $110.33 million for the quarter, compared to analyst estimates of $103.84 million. research analysts predict that CarGurus Inc will post 0.1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of CarGurus by 1,442.2% during the second quarter. Bank of New York Mellon Corp now owns 140,265 shares of the company’s stock worth $4,872,000 after acquiring an additional 131,170 shares during the last quarter. California Public Employees Retirement System purchased a new stake in shares of CarGurus during the second quarter worth about $345,000. Millennium Management LLC increased its position in shares of CarGurus by 33.4% during the second quarter. Millennium Management LLC now owns 17,302 shares of the company’s stock worth $601,000 after acquiring an additional 4,334 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of CarGurus during the second quarter worth about $2,899,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of CarGurus during the second quarter worth about $205,000. 63.29% of the stock is currently owned by institutional investors and hedge funds.

CARG has been the topic of several research reports. BidaskClub raised CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Zacks Investment Research raised CarGurus from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Thursday, August 2nd. JMP Securities raised CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 target price on the stock in a research report on Wednesday, August 8th. Royal Bank of Canada raised CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 target price on the stock in a research report on Wednesday, August 8th. Finally, DA Davidson set a $53.00 target price on CarGurus and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $44.17.

CarGurus Company Profile

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.

Further Reading: Market Capitalization in the Stock Market

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

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