CarGurus, Inc. (NASDAQ:CARG) CEO Sells $83,978.36 in 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 sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. The trade was a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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 Trading Up 1.9 %

Shares of CARG stock opened at $38.49 on Wednesday. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of -83.67, a price-to-earnings-growth ratio of 1.67 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10. The stock’s 50-day moving average price is $36.87 and its 200-day moving average price is $31.44.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Needham & Company LLC increased their price objective on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BTIG Research raised their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their price target on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.41.

Institutional Trading of CarGurus

A number of large investors have recently added to or reduced their stakes in the company. Seven Eight Capital LP purchased a new position in shares of CarGurus in the second quarter valued at $479,000. Sei Investments Co. grew its stake in shares of CarGurus by 57.2% in the 2nd quarter. Sei Investments Co. now owns 99,183 shares of the company’s stock worth $2,599,000 after buying an additional 36,080 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after buying an additional 89,346 shares during the last quarter. Marshall Wace LLP raised its position in shares of CarGurus by 3,512.4% during the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after buying an additional 467,042 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in shares of CarGurus in the 2nd quarter valued at about $87,000. 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.