CarGurus, Inc. (NASDAQ:CARG) COO Sells $282,750.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 7,500 shares of CarGurus stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00. Following the completion of the sale, the chief operating officer now owns 434,821 shares of the company’s stock, valued at $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Samuel Zales also recently made the following trade(s):

• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24.
• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $31.62, for a total value of $795,812.16.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $36.03 on Friday. The stock has a market cap of $3.74 billion, a PE ratio of -78.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $39.10. The firm has a fifty day moving average price of $34.94 and a 200-day moving average price of $29.71.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. DA Davidson upped their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, BTIG Research increased their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $37.86.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares in the last quarter. State Street Corp raised its stake in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after purchasing an additional 151,862 shares during the period. Los Angeles Capital Management LLC lifted its holdings in CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock worth $1,934,000 after purchasing an additional 22,004 shares in the last quarter. Alpha DNA Investment Management LLC bought a new position in CarGurus in the 3rd quarter worth approximately $503,000. Finally, Citigroup Inc. grew its holdings in CarGurus by 31.0% during the 3rd quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock valued at $4,983,000 after buying an additional 39,240 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.