CarGurus (NASDAQ:CARG) Given New $44.00 Price Target at Oppenheimer

CarGurus (NASDAQ:CARG) had its target price upped by Oppenheimer from $32.00 to $44.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

CARG has been the topic of a number of other reports. JPMorgan Chase & Co. boosted their price objective on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $32.00 price target on shares of CarGurus in a research note on Monday, September 9th. BTIG Research raised their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. B. Riley boosted their target price on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada raised their price target on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.41.

CarGurus Trading Up 4.9 %

NASDAQ:CARG opened at $36.51 on Friday. CarGurus has a 12 month low of $18.83 and a 12 month high of $37.89. The firm’s 50 day moving average is $30.40 and its 200 day moving average is $27.03. The stock has a market capitalization of $3.77 billion, a PE ratio of -79.37, a price-to-earnings-growth ratio of 1.94 and a beta of 1.55.

Insider Activity

In related news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares in the company, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 4,127 shares of CarGurus stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the sale, the chief marketing officer now directly owns 119,330 shares in the company, valued at approximately $3,572,740.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,065 shares of company stock valued at $1,823,794. Company insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

Hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its position in shares of 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 in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus during the third quarter valued at $30,000. CWM LLC boosted its holdings in CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of CarGurus during the first quarter valued at $49,000. Institutional investors own 86.90% of the company’s stock.

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.