Brokerages Set CarGurus, Inc. (NASDAQ:CARG) Price Target at $37.86

Shares of CarGurus, Inc. (NASDAQ:CARG) have received a consensus recommendation of “Moderate Buy” from the eleven analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $37.86.

A number of equities research analysts recently commented on the stock. 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 report on Friday, November 8th. BTIG Research raised their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Jefferies Financial Group raised their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,521 shares of company stock worth $3,394,774 over the last ninety days. 17.20% of the stock is currently owned by insiders.

Institutional Trading of CarGurus

A number of hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus during the 3rd quarter worth $28,000. Signaturefd LLC increased its stake in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus during the third quarter worth about $30,000. Quarry LP boosted its stake in CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after buying an additional 913 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after buying an additional 393 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG stock opened at $35.56 on Friday. The stock has a market capitalization of $3.69 billion, a PE ratio of -77.30, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58. The company has a fifty day moving average of $36.44 and a 200-day moving average of $30.87. CarGurus has a one year low of $21.18 and a one year high of $39.10.

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.