CarGurus, Inc. (NASDAQ:CARG) Receives $38.41 Consensus Price Target from Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the company, Marketbeat Ratings reports. Two investment 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. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $38.41.

CARG has been the topic of a number of analyst reports. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Needham & Company LLC upped their price target on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, January 16th. BTIG Research increased their price objective on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. raised their price target on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th.

Insider Transactions at CarGurus

In other CarGurus news, 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 transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the sale, the chief operating officer now directly owns 442,321 shares in the company, valued at approximately $15,671,433.03. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,556 shares of company stock valued at $2,682,940 in the last three months. 17.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of CarGurus by 57.2% during the second quarter. Sei Investments Co. now owns 99,183 shares of the company’s stock valued at $2,599,000 after acquiring an additional 36,080 shares in the last quarter. Algert Global LLC bought a new stake in shares of CarGurus in the 2nd quarter worth $223,000. Point72 DIFC Ltd purchased a new position in shares of CarGurus in the second quarter worth $87,000. Central Pacific Bank Trust Division lifted its holdings in shares of CarGurus by 5.3% during the third quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock valued at $313,000 after purchasing an additional 520 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of CarGurus during the third quarter valued at $211,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Down 3.3 %

NASDAQ CARG opened at $39.20 on Thursday. CarGurus has a twelve month low of $21.18 and a twelve month high of $41.33. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -85.22, a PEG ratio of 1.79 and a beta of 1.58. The stock has a fifty day simple moving average of $37.51 and a 200 day simple moving average of $32.28.

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.