CarGurus (NASDAQ:CARG) Stock Rating Upgraded by Citigroup

CarGurus (NASDAQ:CARG - Get Free Report) was upgraded by Citigroup from a "hold" rating to a "strong-buy" rating in a research note issued on Monday,Zacks.com reports.

A number of other equities analysts have also issued reports on CARG. Royal Bank of Canada raised their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research report on Monday. BTIG Research increased their price target on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Finally, JMP Securities lifted their price objective on CarGurus from $32.00 to $41.00 and gave the company a "market outperform" rating in a research note on Monday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and a consensus target price of $37.41.

CarGurus Trading Down 2.5 %

Shares of CARG stock traded down $0.93 during mid-day trading on Monday, reaching $36.57. The stock had a trading volume of 718,940 shares, compared to its average volume of 829,170. CarGurus has a 1-year low of $18.90 and a 1-year high of $37.94. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of -79.50, a PEG ratio of 2.09 and a beta of 1.55. The business's fifty day moving average is $30.59 and its 200-day moving average is $27.13.

Insider Buying and Selling

In related news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares of the company's stock, valued at approximately $14,223,340.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now directly owns 205,696 shares of the company's stock, valued at $6,053,633.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,065 shares of company stock valued at $1,823,794. 17.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently modified their holdings of the business. Texas Permanent School Fund Corp raised its holdings in CarGurus by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 74,986 shares of the company's stock valued at $1,731,000 after acquiring an additional 980 shares during the last quarter. Swiss National Bank boosted its stake in CarGurus by 4.7% during the first quarter. Swiss National Bank now owns 171,000 shares of the company's stock worth $3,947,000 after buying an additional 7,700 shares during the last quarter. Headlands Technologies LLC purchased a new stake in CarGurus in the 1st quarter valued at $49,000. ProShare Advisors LLC increased its stake in shares of CarGurus by 5.6% in the 1st quarter. ProShare Advisors LLC now owns 19,116 shares of the company's stock worth $441,000 after acquiring an additional 1,018 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CarGurus by 23.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,778 shares of the company's stock worth $595,000 after acquiring an additional 4,885 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.