Samuel Zales Sells 7,500 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

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

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

• 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 shares were sold at an average price of $31.62, for a total transaction of $795,812.16.

CarGurus Price Performance

Shares of NASDAQ:CARG traded down $0.90 during trading on Wednesday, hitting $36.24. 473,686 shares of the company were exchanged, compared to its average volume of 809,271. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $39.10. The stock has a 50 day moving average of $34.61 and a 200 day moving average of $29.54. The company has a market cap of $3.76 billion, a PE ratio of -78.78, a P/E/G ratio of 2.00 and a beta of 1.57.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CARG. Oppenheimer increased their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC lifted their price target on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday. B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

Institutional Investors Weigh In On CarGurus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC boosted its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 485 shares during the period. Assenagon Asset Management S.A. purchased a new position in CarGurus during the second quarter worth about $1,338,000. Blue Trust Inc. increased its stake in CarGurus by 314.3% in the 2nd quarter. Blue Trust Inc. now owns 4,288 shares of the company’s stock worth $112,000 after acquiring an additional 3,253 shares during the last quarter. Raymond James & Associates raised its holdings in shares of CarGurus by 2.2% in the 2nd quarter. Raymond James & Associates now owns 534,939 shares of the company’s stock valued at $14,015,000 after acquiring an additional 11,584 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of 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 during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.