Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 20,000 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at $15,344,959. The trade was a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Samuel Zales also recently made the following trade(s):

• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34.
• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The shares were sold at an average price of $37.70, for a total transaction of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24.

CarGurus Price Performance

CarGurus stock opened at $39.03 on Friday. The firm has a 50-day moving average of $37.66 and a 200-day moving average of $32.56. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -84.85, a P/E/G ratio of 1.80 and a beta of 1.59.

Hedge Funds Weigh In On CarGurus

A number of large investors have recently modified their holdings of the business. State Street Corp boosted its stake in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of CarGurus by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after buying an additional 74,730 shares during the last quarter. Prevatt Capital Ltd boosted its stake in shares of CarGurus by 7.0% during the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after buying an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of CarGurus by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock worth $39,237,000 after buying an additional 30,593 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in shares of CarGurus during the 3rd quarter worth about $21,052,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARG has been the subject of several research analyst reports. Needham & Company LLC boosted their price target on shares of CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, January 16th. DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

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.