CarGurus, Inc. (NASDAQ:CARG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Two research 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. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $37.86.

Several equities analysts recently commented on the company. Royal Bank of Canada raised their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. JMP Securities raised their target price on CarGurus from $41.00 to $46.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. BTIG Research raised their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. B. Riley raised their target price on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC raised their target price on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th.

Insider Activity

In related news, CMO Dafna Sarnoff sold 4,127 shares of CarGurus stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the sale, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at $3,572,740.20. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,958 shares of company stock valued at $2,268,035. Company insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of CarGurus by 9.4% during the third 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 period. Los Angeles Capital Management LLC grew its stake in CarGurus by 51.9% in the third quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after acquiring an additional 22,004 shares during the period. Alpha DNA Investment Management LLC acquired a new position in CarGurus in the third quarter valued at about $503,000. Citigroup Inc. grew its stake in CarGurus by 31.0% in the third quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock valued at $4,983,000 after acquiring an additional 39,240 shares during the period. Finally, Intech Investment Management LLC acquired a new position in CarGurus in the third quarter valued at about $673,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Trading Up 0.6 %

Shares of CARG stock opened at $38.11 on Wednesday. The stock has a 50 day moving average of $33.76 and a two-hundred day moving average of $29.04. CarGurus has a 12 month low of $21.18 and a 12 month high of $39.10. The company has a market capitalization of $3.95 billion, a P/E ratio of -82.85, a P/E/G ratio of 2.02 and a beta of 1.57.

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.