Following this transaction, Samuel retains ownership of 434,821 shares in the company. This sale was executed under a pre-established Rule 10b5-1 trading plan, as noted in the filing. Rule 10b5-1 plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing a way to systematically sell shares over time while avoiding potential accusations of insider trading. Notably, InvestingPro analysis reveals management has been actively buying back shares, with 12 additional key insights available to subscribers through their comprehensive Pro Research Report. Notably, InvestingPro analysis reveals management has been actively buying back shares, with 12 additional key insights available to subscribers through their comprehensive Pro Research Report.
Following this transaction, Samuel retains ownership of 434,821 shares in the company. This sale was executed under a pre-established Rule 10b5-1 trading plan, as noted in the filing. Rule 10b5-1 plans allow company insiders to sell a predetermined number of shares at a predetermined time, providing a way to systematically sell shares over time while avoiding potential accusations of insider trading.
In other recent news, CarGurus (NASDAQ:CARG) has demonstrated a robust financial performance, posting a 5% year-over-year increase in consolidated revenue to $231 million in its third quarter. The company's marketplace revenue also grew by 15%, reaching $204 million. Analysts from B.Riley and RBC Capital Markets have adjusted their price targets for CarGurus, citing strong Q3 results and favorable growth prospects. B.Riley raised its target to $40, maintaining a Buy rating, while RBC Capital Markets increased its target to $42, retaining an Outperform rating.
CarGurus' non-GAAP consolidated adjusted EBITDA saw a significant rise of 33% year-over-year, indicating strong financial health. The company's international business, particularly in Canada, contributed to the overall growth with a 23% revenue increase. CarGurus also announced a $200 million share repurchase program, set to commence in January 2025.
The recent developments reflect CarGurus' commitment to growth and strategic expansion. The company anticipates a fourth-quarter revenue between $219 million and $239 million, with marketplace revenue growth expected to be between 14% and 17% year-over-year. Despite expecting challenging results in 2025, CarGurus remains optimistic about its growth drivers and product offerings.
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