CarGurus (NASDAQ:CARG) Price Target Raised to $41.00

CarGurus (NASDAQ:CARG) had its price target boosted by JMP Securities from $32.00 to $41.00 in a report issued on Monday,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

Other research analysts have also issued research reports about the company. BTIG Research boosted their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley boosted their target price on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Oppenheimer boosted their target price on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group lifted their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.41.

CarGurus Trading Down 2.5 %

CARG opened at $36.57 on Monday. The firm has a market cap of $3.78 billion, a P/E ratio of -79.50, a P/E/G ratio of 2.09 and a beta of 1.55. CarGurus has a 12 month low of $18.90 and a 12 month high of $37.94. The stock has a 50-day moving average of $30.76 and a 200 day moving average of $27.20.

Insider Activity

In other news, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the completion of the sale, the chief operating officer now directly owns 480,583 shares in the company, valued at approximately $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock valued at $1,823,794 over the last ninety days. 17.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CarGurus

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CarGurus by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after acquiring an additional 107,244 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of CarGurus by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after purchasing an additional 89,346 shares during the last quarter. Select Equity Group L.P. raised its position in shares of CarGurus by 2.8% during the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its position in shares of CarGurus by 26.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after purchasing an additional 228,380 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other 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.