CarGurus, Inc. (NASDAQ:CARG) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $37.86.

A number of equities analysts have weighed in 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 research note on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. 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, BTIG Research upped their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd.

CarGurus Stock Up 0.3 %

CarGurus stock opened at $35.82 on Friday. The stock has a 50-day simple moving average of $35.90 and a 200 day simple moving average of $30.47. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -77.87, a P/E/G ratio of 2.00 and a beta of 1.58. CarGurus has a 12-month low of $21.18 and a 12-month high of $39.10.

Insider Activity

In related news, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Samuel Zales sold 7,500 shares of CarGurus stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,836 shares of company stock valued at $2,324,364 in the last ninety days. 17.20% of the stock is owned by insiders.

Institutional Trading of CarGurus

A number of large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in shares of CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after buying an additional 393 shares during the period. Signaturefd LLC boosted its stake in 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. Point72 DIFC Ltd boosted its stake in CarGurus by 15.2% in the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock worth $115,000 after purchasing an additional 504 shares during the period. Central Pacific Bank Trust Division increased its holdings in CarGurus by 5.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock worth $313,000 after purchasing an additional 520 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of CarGurus by 5.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company’s stock valued at $365,000 after purchasing an additional 584 shares in the last quarter. 86.90% of the stock is owned by 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.