CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CTO Matthew Todd Quinn sold 4,678 shares of the business's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the transaction, the chief technology officer now directly owns 195,795 shares in the company, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
CarGurus Trading Up 3.2 %
CARG traded up $1.13 during mid-day trading on Monday, hitting $36.95. 589,727 shares of the stock were exchanged, compared to its average volume of 618,276. The firm's fifty day moving average is $36.01 and its two-hundred day moving average is $30.62. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The company has a market cap of $3.83 billion, a PE ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58.
Hedge Funds Weigh In On CarGurus
Several hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company's stock worth $74,000 after acquiring an additional 393 shares in the last quarter. Signaturefd LLC lifted its stake in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after acquiring an additional 430 shares in the last quarter. Point72 DIFC Ltd lifted its stake in CarGurus by 15.2% during the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company's stock worth $115,000 after acquiring an additional 504 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in CarGurus by 5.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company's stock worth $313,000 after purchasing an additional 520 shares during the period. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in CarGurus by 5.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company's stock worth $365,000 after purchasing an additional 584 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.
Wall Street Analyst Weigh In
CARG has been the topic of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a research note on Friday, November 8th. BTIG Research boosted their price objective on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Oppenheimer boosted their price objective on CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Finally, JMP Securities reissued a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $37.86.
Check Out Our Latest Stock Analysis on CarGurus
About CarGurus
(
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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.
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