EU and US could reach trade deal this weekend - Reuters
Steinert Langley, Executive Chair at CarGurus , Inc. (NASDAQ:CARG), reported selling shares worth approximately $2.16 million, according to a recent SEC filing. The stock has shown remarkable strength, gaining over 68% in the past year and currently trading near its 52-week high of $39.62. The transactions involved the sale of Class A Common Stock on January 23, 2025, with prices ranging from $38.7559 to $39.3444 per share. Following these sales, Langley retains direct ownership of 657,722 shares and indirect ownership of additional shares held in a family trust. The sales were conducted under a Rule 10b5-1 trading plan. While the insider sale is notable, InvestingPro analysis reveals that management has been actively buying back shares, with the company maintaining strong financial health and holding more cash than debt on its balance sheet. For deeper insights into CARG's valuation and 15 additional key metrics, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, CarGurus has reported a 5% year-on-year increase in consolidated revenue to $231 million in the third quarter, with marketplace revenue growing by 15% to reach $204 million. Non-GAAP consolidated adjusted EBITDA rose significantly by 33%, according to the company's earnings call. Analysts from Needham, B.Riley, and RBC Capital Markets have all adjusted their price targets for the company upwards, citing robust Q3 results and promising growth indicators. Needham has reiterated a Buy rating for the company's stock, highlighting the company's successful positioning and execution in the market. B.Riley has also maintained a Buy rating, while RBC Capital Markets has retained an Outperform rating. These recent developments reflect CarGurus' commitment to growth and strategic expansion.
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