CarGurus, Inc. (NASDAQ:CARG) Given Consensus Recommendation of "Moderate Buy" by Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $37.86.

CARG has been the subject of several analyst reports. Needham & Company LLC raised their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Oppenheimer lifted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company an "outperform" 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. Finally, DA Davidson upped their price target on CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a research note on Friday, November 8th.

CarGurus Trading Up 0.6 %

CARG traded up $0.22 during trading on Wednesday, reaching $38.33. 476,373 shares of the company's stock were exchanged, compared to its average volume of 813,897. The firm has a fifty day moving average price of $33.76 and a two-hundred day moving average price of $29.04. The stock has a market capitalization of $3.98 billion, a PE ratio of -82.85, a price-to-earnings-growth ratio of 2.02 and a beta of 1.57. CarGurus has a one year low of $21.18 and a one year high of $39.10.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 4,127 shares of the firm's stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the sale, the chief marketing officer now owns 119,330 shares in the company, valued at approximately $3,572,740.20. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 25,168 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24. Following the completion of the transaction, the chief operating officer now owns 442,321 shares in the company, valued at approximately $15,671,433.03. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,958 shares of company stock valued at $2,268,035 in the last 90 days. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarGurus

Several institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its position in CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company's stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Los Angeles Capital Management LLC boosted its holdings in CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company's stock worth $1,934,000 after buying an additional 22,004 shares during the period. Alpha DNA Investment Management LLC purchased a new position in CarGurus in the 3rd quarter valued at approximately $503,000. Citigroup Inc. grew its stake in CarGurus by 31.0% in the 3rd quarter. Citigroup Inc. now owns 165,918 shares of the company's stock valued at $4,983,000 after buying an additional 39,240 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in CarGurus during the 3rd quarter valued at $673,000. Hedge funds and other 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.