CarGurus (NASDAQ:CARG) PT Raised to $32.00 at JMP Securities

CarGurus (NASDAQ:CARG) had its target price upped by stock analysts at JMP Securities from $30.00 to $32.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ target price points to a potential upside of 12.60% from the company’s current price.

Several other brokerages have also issued reports on CARG. DA Davidson raised their target price on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, May 13th. B. Riley raised their target price on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Oppenheimer lifted their price objective on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Needham & Company LLC lifted their price objective on shares of CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Royal Bank of Canada increased their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $29.25.

CarGurus Trading Up 3.0 %

Shares of NASDAQ CARG opened at $28.42 on Monday. The firm has a market capitalization of $2.96 billion, a PE ratio of 101.50, a price-to-earnings-growth ratio of 1.40 and a beta of 1.57. CarGurus has a 1 year low of $16.70 and a 1 year high of $28.47. The firm’s 50-day moving average is $25.26 and its 200-day moving average is $23.89.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $24.73, for a total value of $436,929.64. Following the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at approximately $13,572,936.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the transaction, the general counsel now owns 102,130 shares in the company, valued at $2,553,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $24.73, for a total transaction of $436,929.64. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at $13,572,936.85. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,494 shares of company stock valued at $2,119,722. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Several hedge funds have recently modified their holdings of CARG. Wellington Management Group LLP raised its holdings in CarGurus by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after acquiring an additional 1,619,076 shares in the last quarter. Prevatt Capital Ltd acquired a new stake in shares of CarGurus in the 4th quarter valued at approximately $24,160,000. Inflection Point Investments LLP acquired a new stake in shares of CarGurus in the 4th quarter valued at approximately $17,154,000. Norges Bank bought a new position in shares of CarGurus in the fourth quarter valued at $17,042,000. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in CarGurus by 26.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after buying an additional 228,380 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.