CarGurus (NASDAQ:CARG) Price Target Raised to $46.00

CarGurus (NASDAQ:CARG) had its target price hoisted by JMP Securities from $41.00 to $46.00 in a research note released on Friday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other equities research analysts have also issued reports on CARG. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price target on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Oppenheimer upped 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. Jefferies Financial Group upped their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Needham & Company LLC increased their target price on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two 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. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Stock Down 0.3 %

NASDAQ CARG opened at $35.62 on Friday. The stock has a market cap of $3.69 billion, a PE ratio of -77.43, a P/E/G ratio of 1.88 and a beta of 1.55. CarGurus has a fifty-two week low of $21.02 and a fifty-two week high of $37.94. The business has a 50 day moving average price of $31.86 and a two-hundred day moving average price of $27.83.

Insider Activity at CarGurus

In related news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the transaction, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,065 shares of company stock valued at $2,356,336 over the last 90 days. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarGurus

Institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new position in CarGurus during the 3rd quarter valued at about $28,000. Signaturefd LLC grew its stake in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus during the 3rd quarter valued at about $30,000. CWM LLC grew its stake in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares in the last quarter. Finally, Quarry LP lifted its holdings 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 buying an additional 913 shares during 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.