CarGurus executive chair Langley sells $714,468 in stock

Steinert Langley, the Executive Chair of CarGurus , Inc. (NASDAQ:CARG), recently sold shares of the company’s Class A common stock, according to a filing with the U.S. Securities and Exchange Commission. The sale, executed on March 17, 2025, was part of a pre-arranged trading plan under Rule 10b5-1. According to InvestingPro data, CarGurus maintains impressive gross profit margins of 83.7% and carries a "Good" financial health rating, with analyst price targets ranging from $36 to $45.

Langley sold a total of 22,931 shares at an average price of $31.1573, amounting to approximately $714,468. The shares were sold in multiple transactions with prices ranging from $30.78 to $31.44 per share. Following this transaction, Langley holds 1,179,687 shares directly and indirectly in the $3.14 billion market cap company.

In addition to the sales, Langley acquired 80,308 shares through the settlement of restricted stock units (RSUs), which were granted as part of CarGurus’ Omnibus Incentive Compensation Plan. These RSUs are set to vest quarterly, starting from April 1, 2025, contingent upon Langley’s continued service with the company.

The transactions highlight Langley’s ongoing involvement with CarGurus, balancing both sales and acquisitions of the company’s stock.

In other recent news, CarGurus reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share (EPS) of $0.55, though its revenue fell short at $229 million against a forecast of $231.85 million. Marketplace revenue saw a notable 15% year-over-year growth, highlighting strong demand, while the Digital Wholesale segment recorded an $18 million adjusted EBITDA loss. BTIG analyst Marvin Fong revised CarGurus’ stock price target to $40 from $41, maintaining a Buy rating, after noting that the company’s EBITDA met guidance but did not exceed it as in previous quarters. Similarly, Citi analyst Ronald Josey cut the price target to $40 from $43, keeping a Neutral rating, citing mixed earnings results and first-quarter revenue guidance for 2025 that fell short of consensus. JMP analyst Nicholas Jones also adjusted the price target to $43 from $46 while maintaining a Market Outperform rating, acknowledging the challenges in the CarOffer segment. Additionally, CarGurus announced a leadership change with CFO Elisa Palazzo stepping down in March 2025, and CEO Jason Trevisan taking on additional roles as principal financial officer and principal accounting officer until a new CFO is appointed.

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