CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell Sells 4,580 Shares

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $36.95 on Tuesday. The firm has a market cap of $3.83 billion, a PE ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58. The firm has a fifty day moving average of $36.01 and a 200 day moving average of $30.62. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently added to or reduced their stakes in CARG. Natixis Advisors LLC purchased a new stake in CarGurus in the 2nd quarter worth $415,000. Los Angeles Capital Management LLC increased its holdings in CarGurus by 28.1% in the 2nd quarter. Los Angeles Capital Management LLC now owns 42,413 shares of the company’s stock worth $1,111,000 after acquiring an additional 9,309 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of CarGurus during the second quarter worth $532,000. LSV Asset Management grew its holdings in shares of CarGurus by 4.7% during the second quarter. LSV Asset Management now owns 59,700 shares of the company’s stock worth $1,564,000 after buying an additional 2,700 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of CarGurus during the second quarter worth $174,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on CARG. B. Riley lifted their price objective on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective 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. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. 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. Finally, Jefferies Financial Group boosted their target price 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 investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

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.