Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 9,857 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 9,857 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the completion of the transaction, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at $15,923,145.02. This represents a 2.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The shares were sold at an average price of $37.70, for a total value of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were 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 stock was sold at an average price of $31.62, for a total transaction of $795,812.16.

CarGurus Trading Up 3.2 %

NASDAQ:CARG traded up $1.13 during trading hours on Monday, reaching $36.95. The company had a trading volume of 589,727 shares, compared to its average volume of 605,499. The firm’s 50 day moving average price is $35.90 and its 200-day moving average price is $30.50. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $39.10.

Hedge Funds Weigh In On CarGurus

Institutional investors and hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in CarGurus during the third quarter valued at approximately $28,000. Signaturefd LLC boosted its stake in shares of 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 last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus during the 3rd quarter valued at $30,000. Quarry LP increased its stake in shares of CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 913 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CARG. Royal Bank of Canada upped their price target on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BTIG Research lifted their price target on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC upped their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Oppenheimer raised their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

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.