Samuel Zales Sells 25,168 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the transaction, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at $15,671,433.03. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $31.62, for a total value of $795,812.16.

CarGurus Trading Down 0.8 %

NASDAQ:CARG traded down $0.29 during midday trading on Wednesday, hitting $35.16. 644,884 shares of the company traded hands, compared to its average volume of 823,977. CarGurus, Inc. has a 12-month low of $20.63 and a 12-month high of $37.94. The firm’s fifty day moving average is $31.43 and its 200-day moving average is $27.60. The firm has a market capitalization of $3.65 billion, a P/E ratio of -77.06, a P/E/G ratio of 1.95 and a beta of 1.55.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. BTIG Research increased their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. B. Riley raised their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JMP Securities boosted their price objective on shares of CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research note on Monday, November 11th. Needham & Company LLC upped their target price on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada increased their price objective on shares of 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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.41.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARG. Point72 Hong Kong Ltd purchased a new position in CarGurus in the 3rd quarter valued at approximately $28,000. Signaturefd LLC increased its stake in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter valued at about $30,000. CWM LLC increased its holdings in shares of CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of CarGurus by 43.5% in 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. Hedge funds and other institutional investors 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.