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Cargurus COO Zales Samuel sells $360,963 worth of stock to Investing.com

Zales Samuel, Chief Operating Officer and President CarGurus Inch. (NASDAQ: ), recently made a number of stock transactions, according to a filing with the Securities and Exchange Commission. The transactions come as CarGurus shares have shown incredible strength, returning 59% over the past year. On January 2, Samuel sold 9,857 shares of Class A Common Stock at a price of $36.62 per share, for a total of $360,963. This transaction was executed as part of a trading plan pursuant to Rule 10b5-1.

In addition to the stock sale, Samuel exercised stock options to acquire 9,857 shares at $35.61 each, for a total of $351,007. Options were also exercised under a Rule 10b5-1 trading plan. Additionally, 14,796 shares were held for tax liability upon vesting of restricted stock units, valued at $35.73 per share, for a total of $528,661. Eight analysts recently revised their earnings estimates for the upcoming period, according to InvestingPro data.

After these transactions, Samuel holds 420,025 shares of CarGurus. The company, which is currently valued at $3.84 billion, seems quite valued according to InvestingPro analysis, which offers 15+ additional investment insights and a comprehensive Pro Research Report for in-depth analysis of CARG’s financial health and growth prospects.

In other recent news, CarGurus reported strong third-quarter results, beating expectations with consolidated revenue up 5% year-over-year to $231 million and market revenue growing 15% to $204 million. Non-GAAP consolidated adjusted EBITDA recorded a significant increase of 33% compared to the previous year. International operations, particularly in Canada, contributed to overall growth with a 23% increase in revenue. In addition, CarGurus announced a $200 million share repurchase program, which is scheduled to begin in January 2025.

Analysts at RBC Capital and B.Riley adjusted their price targets for CarGurus to $42 and $40, respectively, maintaining positive ratings on the stock. The upgrades follow the company’s robust performance in the third quarter and the expectation of continued growth momentum, driven by factors such as significant growth in merchant adoption of digital drivers and strong international performance.

CarGurus is also launching new products and improving its product offerings, a move highlighted by analysts during the earnings call. Despite expectations of challenging results in 2025, the company is forecasting fourth-quarter revenue of between $219 million and $239 million, with market revenue growth expected to be between 14% and 17% year-over-year. These are recent developments that reflect CarGurus’ commitment to growth and strategic expansion.

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