CarGurus, Inc. (NASDAQ:CARG) CEO Sells $83,978.36 in Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares in the company, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Zachary Emerson Hallowell also recently made the following trade(s):

• On Friday, January 3rd, Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40.

CarGurus Trading Up 2.2 %

CARG stock opened at $39.33 on Friday. The company’s 50 day moving average is $36.93 and its 200 day moving average is $31.59. The stock has a market cap of $4.08 billion, a price-to-earnings ratio of -85.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.62.

Analyst Ratings Changes

A number of research analysts recently weighed in on CARG shares. Needham & Company LLC lifted their price objective on shares of CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. BTIG Research boosted their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. lifted its holdings in shares of CarGurus by 23.5% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 55,261 shares of the company’s stock worth $2,019,000 after acquiring an additional 10,498 shares during the last quarter. R Squared Ltd bought a new stake in CarGurus during the fourth quarter worth about $77,000. Moody Aldrich Partners LLC purchased a new position in shares of CarGurus in the 4th quarter worth about $3,852,000. KBC Group NV increased its position in shares of CarGurus by 42.1% during the 4th quarter. KBC Group NV now owns 4,826 shares of the company’s stock valued at $176,000 after purchasing an additional 1,429 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of CarGurus by 36.3% during the 4th quarter. Blue Trust Inc. now owns 14,833 shares of the company’s stock valued at $542,000 after buying an additional 3,952 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.