Samuel Zales Sells 9,857 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) COO Samuel Zales sold 9,857 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the completion of the sale, the chief operating officer now owns 434,821 shares in the company, valued at $15,923,145.02. The trade was a 2.22 % decrease in their position. The sale 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 Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The stock was 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.
• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $31.62, for a total value of $795,812.16.

CarGurus Stock Up 3.2 %

Shares of CarGurus stock traded up $1.13 during mid-day trading on Monday, reaching $36.95. 589,727 shares of the stock traded hands, compared to its average volume of 618,276. The business has a 50-day moving average of $36.01 and a 200 day moving average of $30.62. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10. The stock has a market capitalization 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

A number of hedge funds have recently made changes to their positions in CARG. Loomis Sayles & Co. L P acquired a new position in shares of CarGurus during the third quarter valued at approximately $21,052,000. Marshall Wace LLP increased its holdings in shares of CarGurus by 3,512.4% in the second quarter. Marshall Wace LLP now owns 480,339 shares of the company's stock valued at $12,585,000 after purchasing an additional 467,042 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of CarGurus by 629.3% in the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company's stock valued at $11,183,000 after purchasing an additional 321,318 shares during the last quarter. Allen Investment Management LLC increased its holdings in shares of CarGurus by 187.2% in the second quarter. Allen Investment Management LLC now owns 257,827 shares of the company's stock valued at $6,755,000 after purchasing an additional 168,051 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CARG shares. JPMorgan Chase & Co. upped their target price 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 upped their target price on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC increased their price target on CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Two research 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $37.86.

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.