CarGurus (NASDAQ:CARG) Price Target Raised to $46.00 at JMP Securities

CarGurus (NASDAQ:CARG) had its price target boosted by JMP Securities from $41.00 to $46.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a market outperform rating on the stock.

Other equities research analysts also recently issued reports about the company. Needham & Company LLC upped their price objective on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BTIG Research upped their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Jefferies Financial Group upped their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Trading Down 0.3 %

NASDAQ:CARG opened at $35.62 on Friday. The company has a market capitalization of $3.69 billion, a P/E ratio of -77.67, a P/E/G ratio of 1.87 and a beta of 1.55. CarGurus has a 12 month low of $21.02 and a 12 month high of $37.94. The business’s 50-day moving average is $31.73 and its 200 day moving average is $27.70.

Insider Buying and Selling

In related news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value 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 approximately $27,605,848.46. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,065 shares of company stock valued at $2,356,336 over the last quarter. 17.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. Lazard Asset Management LLC boosted its position in CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock valued at $450,000 after acquiring an additional 420 shares in the last quarter. 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 valued at $29,000 after acquiring an additional 430 shares in the last quarter. Raymond James Trust N.A. boosted its position in CarGurus by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock valued at $644,000 after acquiring an additional 450 shares in the last quarter. 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 valued at $41,000 after acquiring an additional 479 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

About CarGurus

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.