CarGurus, Inc. (NASDAQ:CARG) Receives $37.86 Consensus Price Target from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.86.

CARG has been the subject of several recent analyst reports. DA Davidson lifted their price objective on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Oppenheimer lifted their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th.

Insider Transactions at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,521 shares of company stock valued at $3,394,774 in the last 90 days. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Large investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd purchased a new stake in CarGurus during the 3rd quarter worth about $28,000. Signaturefd LLC lifted its stake 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 acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus during the 3rd quarter worth approximately $30,000. Quarry LP boosted its position 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 purchasing an additional 913 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in 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 buying an additional 393 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $36.76 on Friday. CarGurus has a 1-year low of $21.18 and a 1-year high of $39.10. The business’s 50 day moving average is $36.12 and its two-hundred day moving average is $30.71. The stock has a market capitalization of $3.81 billion, a P/E ratio of -79.91, a PEG ratio of 2.00 and a beta of 1.58.

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.