CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell Sells 4,580 Shares

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares in the company, 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 Securities & Exchange Commission, which is available through this link.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $36.76 on Wednesday. The stock has a market capitalization of $3.81 billion, a price-to-earnings ratio of -79.91, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The company has a 50 day moving average price of $36.12 and a 200 day moving average price of $30.71.

Institutional Trading of CarGurus

A number of hedge funds have recently bought and sold shares of the company. Natixis Advisors LLC acquired a new stake in CarGurus during the 2nd quarter valued at $415,000. Los Angeles Capital Management LLC raised its position in CarGurus by 28.1% during the second quarter. Los Angeles Capital Management LLC now owns 42,413 shares of the company’s stock valued at $1,111,000 after buying an additional 9,309 shares during the period. Acadian Asset Management LLC purchased a new stake in CarGurus in the 2nd quarter worth about $532,000. LSV Asset Management lifted its stake in CarGurus by 4.7% in the 2nd quarter. LSV Asset Management now owns 59,700 shares of the company’s stock worth $1,564,000 after acquiring an additional 2,700 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in CarGurus during the 2nd quarter worth about $174,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARG has been the subject of several analyst reports. DA Davidson boosted their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. B. Riley boosted their price target on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Oppenheimer raised their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two research 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. According to data from MarketBeat, the company 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.