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BOSTON—Samuel Zales, the Chief Operating Officer and President of CarGurus , Inc. (NASDAQ:CARG), recently sold a significant portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Zales sold 20,000 shares of Class A Common Stock on February 3, 2025. The transaction comes as CarGurus, with a market capitalization of $4.06 billion, trades near its 52-week high of $41.33, having delivered an impressive 67% return over the past six months. The shares were sold at a weighted average price of $38.36, resulting in a total transaction value of approximately $767,200.
This transaction was executed under a Rule 10b5-1 trading plan, which allows company insiders to set up a predetermined plan to sell stock. Following this sale, Zales retains ownership of 400,025 shares in CarGurus.
The shares were sold in multiple transactions, with prices ranging from $37.81 to $38.70 per share. Further details about the specific number of shares sold at each price are available upon request from Zales, the SEC, or CarGurus itself. For comprehensive insider trading analysis and detailed valuation metrics, investors can access the full CarGurus Pro Research Report, part of InvestingPro’s coverage of over 1,400 US stocks.
In other recent news, CarGurus Inc. has been the subject of several analyst reports. Needham reiterated a Buy rating on CarGurus shares and increased its price target to $45, citing the company’s potential due to its superior return on investments and its successful engagement with dealer customers. B.Riley also maintained a Buy rating and adjusted the price target for CarGurus to $40.00, following a robust third-quarter performance and significant growth in digital-lead adoption by dealers. RBC Capital Markets echoed this positive sentiment, raising its price target to $42 and retaining an Outperform rating on the stock, based on the company’s consistent core marketplace performance and margin gains.
In the company’s third-quarter 2024 earnings call, CarGurus reported a 5% year-over-year increase in consolidated revenue to $231 million and a significant 15% growth in marketplace revenue. The non-GAAP consolidated adjusted EBITDA saw a substantial rise of 33% year-over-year, with a margin of 28%. The company also announced a $200 million share repurchase program, set to start in January 2025.
Despite anticipating challenging results in 2025, CarGurus remains confident in its growth drivers and product offerings. These recent developments highlight the company’s strategic positioning and execution in the market, as well as its potential for continued growth.
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