Brokerages Set CarGurus, Inc. (NASDAQ:CARG) Price Target at $37.86

Shares of CarGurus, Inc. (NASDAQ:CARG) have received a consensus rating of “Moderate Buy” from the eleven analysts that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.86.

A number of research analysts recently weighed in on CARG shares. Oppenheimer upped their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson upped their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group boosted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th.

CarGurus Trading Up 1.0 %

NASDAQ CARG opened at $37.11 on Friday. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of -80.67, a PEG ratio of 2.00 and a beta of 1.58. The business’s 50 day moving average is $36.23 and its two-hundred day moving average is $30.75. CarGurus has a 12-month low of $21.18 and a 12-month high of $39.10.

Insider Activity

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were 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 in the company, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction 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 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,521 shares of company stock worth $3,394,774 over the last ninety days. 17.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the third quarter valued at $28,000. Signaturefd LLC boosted its stake in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CarGurus in the 3rd quarter valued at about $30,000. Quarry LP increased its stake 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 acquiring an additional 913 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares during the period. 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.