Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CTO Sells 4,678 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the sale, the chief technology officer now owns 195,795 shares of the company’s stock, valued at $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

CarGurus Trading Up 1.0 %

Shares of NASDAQ CARG opened at $37.11 on Thursday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of -80.67, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10. The business has a fifty day simple moving average of $36.12 and a 200 day simple moving average of $30.71.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. DA Davidson lifted their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. increased their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Finally, Royal Bank of Canada increased their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus during the 3rd quarter valued at about $28,000. Signaturefd LLC boosted its holdings in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the 3rd quarter valued at approximately $30,000. Quarry LP raised its holdings in shares of 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 in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after buying an additional 393 shares in 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.