Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 7,500 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 7,500 shares of the 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 sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Samuel Zales also recently made the following trade(s):

• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24.
• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $31.62, for a total value of $795,812.16.

CarGurus Stock Performance

CARG stock opened at $36.09 on Thursday. The firm has a market cap of $3.74 billion, a PE ratio of -78.45, a PEG ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10. The firm’s 50 day moving average price is $34.72 and its 200-day moving average price is $29.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CARG. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus during the 3rd quarter worth approximately $28,000. Signaturefd LLC grew its stake in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus in the 3rd quarter valued at $30,000. CWM LLC raised its holdings in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares in the last quarter. Finally, Quarry LP raised its stake in shares of CarGurus by 155.8% during the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after buying an additional 913 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARG has been the topic of several research analyst reports. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Royal Bank of Canada boosted their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. BTIG Research upped their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

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.