CarGurus, Inc. (NASDAQ:CARG) CEO Sells $354,100.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

CarGurus Stock Down 0.3 %

Shares of NASDAQ:CARG opened at $35.62 on Friday. The company has a market cap of $3.69 billion, a PE ratio of -77.67, a P/E/G ratio of 1.87 and a beta of 1.55. CarGurus, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $37.94. The firm has a 50-day simple moving average of $31.73 and a 200 day simple moving average of $27.70.

Hedge Funds Weigh In On CarGurus

Institutional investors have recently made changes to their positions in the stock. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus in the 3rd quarter worth approximately $28,000. Signaturefd LLC increased its position in CarGurus by 81.3% in the third 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 CarGurus in the third quarter valued at $30,000. CWM LLC boosted 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 valued at $36,000 after acquiring an additional 485 shares during the period. Finally, Quarry LP boosted its holdings in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the period. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CARG shares. Oppenheimer raised their target price on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley raised their price objective on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. BTIG Research upped their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

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.