CarGurus, Inc. (NASDAQ:CARG - Get Free Report) CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now directly owns 120,051 shares of the company's stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
CarGurus Stock Performance
CarGurus stock traded up $1.13 during trading on Monday, hitting $36.95. The company's stock had a trading volume of 589,727 shares, compared to its average volume of 618,276. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -80.32, a P/E/G ratio of 2.00 and a beta of 1.58. The stock's fifty day moving average is $36.01 and its 200 day moving average is $30.62. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10.
Institutional Investors Weigh In On CarGurus
A number of institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its stake in shares of CarGurus by 4.3% in the 4th quarter. Nordea Investment Management AB now owns 313,474 shares of the company's stock valued at $11,711,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of CarGurus by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 3,099 shares of the company's stock valued at $113,000 after purchasing an additional 640 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of CarGurus by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company's stock valued at $12,127,000 after purchasing an additional 9,744 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of CarGurus by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company's stock valued at $13,514,000 after purchasing an additional 6,186 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in CarGurus by 0.8% during the third quarter. Franklin Resources Inc. now owns 261,890 shares of the company's stock worth $8,150,000 after buying an additional 2,051 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on the company. BTIG Research boosted their price target on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Needham & Company LLC boosted their price target on CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, November 8th. DA Davidson boosted their price target on CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, JMP Securities reissued a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $37.86.
Check Out Our Latest Stock Report on CarGurus
CarGurus Company Profile
(
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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.
Further Reading
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