Insider Selling: CarGurus Inc (CARG) Director Sells 24,039 Shares of Stock

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CarGurus Inc (NASDAQ:CARG) Director Anastasios Parafestas sold 24,039 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $40.05, for a total transaction of $962,761.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Anastasios Parafestas also recently made the following trade(s):

  • On Wednesday, March 13th, Anastasios Parafestas sold 60,000 shares of CarGurus stock. The stock was sold at an average price of $39.76, for a total transaction of $2,385,600.00.
  • On Monday, March 11th, Anastasios Parafestas sold 60,000 shares of CarGurus stock. The stock was sold at an average price of $39.34, for a total transaction of $2,360,400.00.
  • On Thursday, March 7th, Anastasios Parafestas sold 60,000 shares of CarGurus stock. The stock was sold at an average price of $39.44, for a total transaction of $2,366,400.00.
  • On Tuesday, March 5th, Anastasios Parafestas sold 33,700 shares of CarGurus stock. The stock was sold at an average price of $39.79, for a total transaction of $1,340,923.00.
  • On Wednesday, February 27th, Anastasios Parafestas sold 140,848 shares of CarGurus stock. The shares were sold at an average price of $42.29, for a total transaction of $5,956,461.92.
  • On Thursday, February 21st, Anastasios Parafestas sold 64,140 shares of CarGurus stock. The shares were sold at an average price of $40.57, for a total transaction of $2,602,159.80.
  • On Thursday, February 14th, Anastasios Parafestas sold 44,000 shares of CarGurus stock. The shares were sold at an average price of $40.42, for a total transaction of $1,778,480.00.
  • On Tuesday, February 12th, Anastasios Parafestas sold 60,000 shares of CarGurus stock. The shares were sold at an average price of $39.84, for a total transaction of $2,390,400.00.

Shares of NASDAQ CARG opened at $39.09 on Friday. The stock has a market cap of $4.38 billion, a P/E ratio of 68.58, a P/E/G ratio of 37.65 and a beta of 1.97. CarGurus Inc has a 1 year low of $29.18 and a 1 year high of $57.25.

CARG has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of CarGurus in a research note on Friday, December 7th. They set a “buy” rating and a $45.00 price objective for the company. SunTrust Banks initiated coverage on shares of CarGurus in a research note on Monday, November 19th. They set a “buy” rating and a $49.00 price objective for the company. Oppenheimer initiated coverage on shares of CarGurus in a research report on Tuesday, January 8th. They set a “buy” rating and a $42.00 price target on the stock. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Friday, March 1st. Finally, Benchmark reiterated a “buy” rating and set a $50.00 price target on shares of CarGurus in a research report on Friday, March 1st. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $49.40.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC grew its holdings in CarGurus by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock worth $27,795,000 after purchasing an additional 98,854 shares during the period. Norges Bank purchased a new stake in CarGurus in the fourth quarter worth about $15,947,000. O Brien Greene & Co. Inc purchased a new stake in CarGurus in the fourth quarter worth about $320,000. Dimensional Fund Advisors LP purchased a new stake in CarGurus in the fourth quarter worth about $686,000. Finally, Amalgamated Bank purchased a new stake in CarGurus in the fourth quarter worth about $246,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

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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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