CarGurus (NASDAQ:CARG) Price Target Raised to $42.00 at Royal Bank of Canada

CarGurus (NASDAQ:CARG) had its price target raised by Royal Bank of Canada from $30.00 to $42.00 in a report published on Monday,Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. B. Riley lifted their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. DA Davidson boosted their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. JMP Securities boosted their target price on shares of CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research note on Monday. Jefferies Financial Group upped 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. Finally, JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.41.

CarGurus Stock Down 2.5 %

CARG stock opened at $36.57 on Monday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -79.50, a PEG 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 company’s fifty day simple moving average is $30.76 and its 200 day simple moving average is $27.20.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the transaction, the chief operating officer now owns 449,821 shares of the company’s stock, valued at approximately $14,223,340.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the 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 completion of the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now directly owns 449,821 shares of the company’s stock, valued at $14,223,340.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,065 shares of company stock valued at $1,823,794. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Several institutional investors have recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CarGurus in the 3rd quarter worth about $30,000. CWM LLC lifted its position in shares of CarGurus by 54.1% in the 2nd 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 lifted its position in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares during the period. Finally, GAMMA Investing LLC lifted its position in shares of CarGurus by 25.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares during the period. Hedge funds and other 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.