Insider Selling: CarGurus, Inc. (NASDAQ:CARG) CEO Sells 2,203 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 stock was sold at an average price of $35.78, for a total value of $163,872.40.

CarGurus Stock Performance

Shares of CARG stock opened at $38.49 on Thursday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $39.10. The stock has a market capitalization of $3.99 billion, a PE ratio of -83.67, a PEG ratio of 1.67 and a beta of 1.58. The stock’s fifty day moving average is $36.93 and its 200-day moving average is $31.59.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CARG shares. Needham & Company LLC increased 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 restated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. DA Davidson upped their price objective on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Oppenheimer raised their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Jefferies Financial Group upped their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

Institutional Investors Weigh In On CarGurus

A number of hedge funds have recently added to or reduced their stakes in CARG. Fifth Third Bancorp raised 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 Hong Kong Ltd acquired a new position in CarGurus during the 3rd quarter worth $28,000. USA Financial Formulas bought a new position in CarGurus in the 4th quarter valued at $35,000. Signaturefd LLC increased its stake in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus in the 3rd quarter valued at $30,000. Institutional investors own 86.90% of the company’s stock.

About CarGurus

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.