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 the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

CarGurus Price Performance

NASDAQ CARG opened at $36.95 on Tuesday. The firm’s 50-day moving average is $36.01 and its two-hundred day moving average 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 P/E ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58.

Wall Street Analyst Weigh In

CARG has been the topic of several recent research reports. JMP Securities reissued a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. B. Riley boosted their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Oppenheimer boosted their price target on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Institutional Trading of CarGurus

Hedge funds have recently made changes to their positions in the business. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus during the third quarter worth about $28,000. Signaturefd LLC lifted its position in shares of CarGurus by 81.3% during the third 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. acquired a new stake in shares of CarGurus during the third quarter worth about $30,000. Quarry LP lifted its position in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 913 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.