Jason Trevisan Sells 10,000 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the transaction, the chief executive officer now directly owns 779,606 shares in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CarGurus Stock Performance

NASDAQ CARG traded down $0.29 during trading hours on Wednesday, reaching $35.16. The company’s stock had a trading volume of 644,884 shares, compared to its average volume of 823,977. The stock has a market cap of $3.65 billion, a PE ratio of -77.06, a PEG ratio of 1.95 and a beta of 1.55. CarGurus, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $37.94. The company’s 50-day moving average is $31.43 and its two-hundred day moving average is $27.60.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd bought a new stake in CarGurus in the third quarter valued at $28,000. Signaturefd LLC boosted its position in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in CarGurus during the 3rd quarter worth about $30,000. CWM LLC boosted its position in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on CARG. BTIG Research increased their price objective on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. JMP Securities boosted their price target on shares of CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Finally, Needham & Company LLC boosted their price objective on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.41.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.