Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells 9,857 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 9,857 shares of CarGurus stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at $15,923,145.02. This represents a 2.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• 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 value of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24.
• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16.

CarGurus Stock Up 1.0 %

NASDAQ:CARG opened at $37.11 on Thursday. The company’s 50 day moving average is $36.12 and its 200-day moving average is $30.71. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.10. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -80.67, a P/E/G ratio of 2.00 and a beta of 1.58.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. B. Riley boosted their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Oppenheimer boosted their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two equities research 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter worth about $28,000. Signaturefd LLC increased its position in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter valued at approximately $30,000. Quarry LP grew its stake in shares of CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares during the period. Institutional investors and hedge funds 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.