Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells $360,963.34 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at $15,923,145.02. This trade represents a 2.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $35.43, for a total transaction 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 transaction of $795,812.16.

CarGurus Trading Up 1.0 %

Shares of NASDAQ CARG opened at $37.11 on Thursday. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The firm has a 50-day moving average of $36.12 and a two-hundred day moving average of $30.71. The company 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.

Institutional Trading of CarGurus

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. lifted its position in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares during the last quarter. State Street Corp boosted its position in shares of CarGurus by 4.8% in the 3rd 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 period. Los Angeles Capital Management LLC increased its stake in CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock worth $1,934,000 after purchasing an additional 22,004 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in CarGurus during the 3rd quarter worth about $503,000. Finally, Citigroup Inc. lifted its stake in CarGurus by 31.0% during the third quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock valued at $4,983,000 after buying an additional 39,240 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group upped their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. DA Davidson lifted their price objective on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada upped their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, CarGurus has an average rating of “Moderate Buy” and an average price target of $37.86.

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.