B. Riley Issues Positive Forecast for CarGurus (NASDAQ:CARG) Stock Price

CarGurus (NASDAQ:CARG) had its price target boosted by B. Riley from $30.00 to $40.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Needham & Company LLC lifted their price target on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday. Oppenheimer raised their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday. DA Davidson boosted their price objective on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday. BTIG Research increased their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.41.

CarGurus Trading Up 4.9 %

Shares of NASDAQ:CARG opened at $36.51 on Monday. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -79.37, a PEG ratio of 1.94 and a beta of 1.55. CarGurus has a 12-month low of $18.83 and a 12-month high of $37.89. The business has a 50-day moving average price of $30.40 and a 200 day moving average price of $27.03.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,495 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares of the company’s stock, valued at $6,053,633.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at approximately $3,664,815.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the transaction, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,065 shares of company stock worth $1,823,794. 17.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On CarGurus

Large investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after purchasing an additional 393 shares during the period. Lazard Asset Management LLC lifted its holdings in shares of CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after acquiring an additional 420 shares during the period. Signaturefd LLC raised its holdings in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares in the last quarter. Raymond James Trust N.A. boosted its stake in shares of CarGurus by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock valued at $644,000 after purchasing an additional 450 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares in the last quarter. 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.