CarGurus, Inc. (NASDAQ:CARG) Receives $37.86 Consensus PT from Brokerages

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eleven ratings firms that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $37.86.

CARG has been the topic of several recent research reports. B. Riley increased their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a report on Monday, November 11th. Needham & Company LLC raised their price objective on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a research note on Friday, November 8th. BTIG Research boosted their target price on CarGurus from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Citigroup upgraded CarGurus from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Finally, Oppenheimer lifted their price target on CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, November 8th.

CarGurus Stock Performance

CARG traded up $0.09 during midday trading on Friday, hitting $35.82. The stock had a trading volume of 623,810 shares, compared to its average volume of 632,555. CarGurus has a 1 year low of $21.18 and a 1 year high of $39.10. The business has a fifty day moving average of $35.90 and a 200 day moving average of $30.50. The company has a market cap of $3.71 billion, a P/E ratio of -77.87, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 7,500 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now directly owns 434,821 shares of the company's stock, valued at approximately $16,392,751.70. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the company's stock in a transaction dated Monday, November 18th. The shares were 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. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,836 shares of company stock valued at $2,324,364. Company insiders own 17.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new position in CarGurus in the 3rd quarter worth $28,000. Signaturefd LLC increased its position in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus in the third quarter worth about $30,000. Quarry LP raised 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 valued at $45,000 after purchasing an additional 913 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company's stock valued at $74,000 after buying an additional 393 shares in the last quarter. 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.