Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CEO Sells 2,203 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 2,203 shares of the business’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Zachary Emerson Hallowell also recently made the following trade(s):

• On Friday, January 3rd, Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock. The stock was sold at an average price of $35.78, for a total value of $163,872.40.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $39.33 on Friday. The firm has a market capitalization of $4.08 billion, a P/E ratio of -85.50, a P/E/G ratio of 1.70 and a beta of 1.58. The stock has a 50 day moving average price of $36.93 and a 200-day moving average price of $31.59. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $39.62.

Hedge Funds Weigh In On CarGurus

Institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after acquiring an additional 89,815 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new stake in CarGurus in the third quarter worth about $503,000. Los Angeles Capital Management LLC increased its stake in shares of CarGurus by 51.9% during the third quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after purchasing an additional 22,004 shares in the last quarter. Finally, Friedenthal Financial purchased a new position in shares of CarGurus during the fourth quarter valued at approximately $767,000. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CARG. Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. DA Davidson raised their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC upped their price objective on shares of CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Oppenheimer raised their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

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.