Zachary Emerson Hallowell Sells 2,203 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

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

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 value of $163,872.40.

CarGurus Stock Performance

Shares of CarGurus stock opened at $38.49 on Thursday. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The firm has a fifty day simple moving average of $36.93 and a 200-day simple moving average of $31.59. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -83.67, a PEG ratio of 1.67 and a beta of 1.58.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Oppenheimer boosted their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC raised their target price on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $38.41.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in shares of CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares during the period. Signaturefd LLC boosted its position in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares during the period. Fifth Third Bancorp grew its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the last quarter. Point72 DIFC Ltd grew its stake in shares of CarGurus by 15.2% in the third quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock worth $115,000 after acquiring an additional 504 shares during the last quarter. Finally, Central Pacific Bank Trust Division increased its position in CarGurus by 5.3% during the third quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock worth $313,000 after acquiring an additional 520 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.