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 transaction of $360,963.34. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $35.43, for a total value 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 Trading Up 3.2 %

Shares of CARG stock traded up $1.13 on Monday, reaching $36.95. 589,727 shares of the company’s stock were exchanged, compared to its average volume of 605,499. The company’s fifty day simple moving average is $35.90 and its 200 day simple moving average is $30.50. The stock has a market capitalization of $3.83 billion, a PE ratio of -80.32, a P/E/G 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CARG shares. 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 report on Monday, November 11th. BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC raised their price target on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 8th. 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. Based on data from MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

Institutional Trading of CarGurus

Large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in CarGurus in the 3rd quarter valued at about $28,000. Signaturefd LLC grew its position 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 buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter valued at about $30,000. Quarry LP lifted its stake in CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the period. Finally, GAMMA Investing LLC grew its holdings in CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.