CarGurus (NASDAQ:CARG) PT Raised to $32.00

CarGurus (NASDAQ:CARG) had its price target hoisted by JPMorgan Chase & Co. from $29.00 to $32.00 in a report published on Monday, Benzinga reports. The firm currently has an overweight rating on the stock.

CARG has been the topic of a number of other research reports. JMP Securities restated a market outperform rating and set a $30.00 price target on shares of CarGurus in a report on Wednesday, July 10th. DA Davidson boosted their target price on CarGurus from $22.00 to $25.50 and gave the company a neutral rating in a research note on Monday, May 13th. Royal Bank of Canada raised their price target on CarGurus from $27.00 to $30.00 and gave the stock an outperform rating in a research note on Friday, August 9th. Needham & Company LLC boosted their price objective on shares of CarGurus from $25.00 to $27.00 and gave the company a buy rating in a research report on Friday, August 9th. Finally, B. Riley raised their target price on shares of CarGurus from $28.00 to $30.00 and gave the stock a buy rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $29.25.

CarGurus Stock Up 2.0 %

Shares of CarGurus stock opened at $28.23 on Monday. The firm has a market cap of $2.94 billion, a PE ratio of 100.82, a price-to-earnings-growth ratio of 1.40 and a beta of 1.57. The company’s fifty day simple moving average is $25.31 and its two-hundred day simple moving average is $23.92. CarGurus has a 12-month low of $16.70 and a 12-month high of $28.67.

Insider Activity

In related news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the transaction, the chief operating officer now owns 488,083 shares of the company’s stock, valued at approximately $12,929,318.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the sale, the chief operating officer now directly owns 488,083 shares in the company, valued at approximately $12,929,318.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the transaction, the general counsel now owns 102,130 shares in the company, valued at approximately $2,553,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,826 shares of company stock worth $1,682,792. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC bought a new position in shares of CarGurus during the 4th quarter valued at approximately $32,000. CWM LLC boosted its position in shares of CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of CarGurus in the first quarter worth $49,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of CarGurus during the 4th quarter valued at $65,000. Institutional investors own 86.90% of the company’s stock.

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.