CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn Sells 4,678 Shares

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

CarGurus Price Performance

Shares of CARG opened at $36.95 on Tuesday. The business’s fifty day moving average price is $36.01 and its 200 day moving average price is $30.62. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10. The stock has a market capitalization of $3.83 billion, a PE ratio of -80.32, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58.

Institutional Investors Weigh In On CarGurus

A number of hedge funds have recently added to or reduced their stakes in CARG. Loomis Sayles & Co. L P acquired a new position in shares of CarGurus during the third quarter valued at $21,052,000. Marshall Wace LLP boosted its holdings in shares of CarGurus by 3,512.4% during the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after acquiring an additional 467,042 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of CarGurus by 629.3% during the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after acquiring an additional 321,318 shares during the period. Allen Investment Management LLC boosted its holdings in shares of CarGurus by 187.2% during the second quarter. Allen Investment Management LLC now owns 257,827 shares of the company’s stock valued at $6,755,000 after acquiring an additional 168,051 shares during the period. Finally, State Street Corp boosted its holdings in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARG. BTIG Research increased their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Jefferies Financial Group increased their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Needham & Company LLC increased their target price on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.