Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells $767,200.00 in Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34.
• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The shares were sold at an average price of $37.70, for a total value of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $35.43, for a total value of $891,702.24.

CarGurus Trading Up 1.4 %

Shares of CARG stock traded up $0.55 during mid-day trading on Friday, reaching $39.58. The stock had a trading volume of 630,983 shares, compared to its average volume of 773,184. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The firm has a market capitalization of $4.10 billion, a PE ratio of -86.04, a price-to-earnings-growth ratio of 1.79 and a beta of 1.59. The stock's 50-day moving average price is $37.72 and its two-hundred day moving average price is $32.70.

Hedge Funds Weigh In On CarGurus

Several hedge funds have recently made changes to their positions in CARG. Loomis Sayles & Co. L P bought a new position in shares of CarGurus in the 3rd quarter worth approximately $21,052,000. Raymond James Financial Inc. bought a new stake in CarGurus during the fourth quarter worth about $19,465,000. Assenagon Asset Management S.A. boosted its position in shares of CarGurus by 629.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company's stock worth $11,183,000 after purchasing an additional 321,318 shares in the last quarter. State Street Corp raised its stake in CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after buying an additional 151,862 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after acquiring an additional 121,341 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARG shares. DA Davidson upped their price target on CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a research report on Friday, November 8th. BTIG Research lifted their target price 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. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, November 11th. JMP Securities reaffirmed a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Finally, Needham & Company LLC increased their target price on CarGurus from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CarGurus currently has a consensus rating of "Moderate Buy" and a consensus target price of $38.41.

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.