CarGurus’ (CARG) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reiterated their market outperform rating on shares of CarGurus (NASDAQ:CARG) in a report released on Monday,Benzinga reports. The brokerage currently has a $46.00 price target on the stock.

CARG has been the subject of a number of other research reports. Oppenheimer upped their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. BTIG Research upped their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC lifted their price objective on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada lifted their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Trading Down 2.8 %

Shares of CARG stock opened at $36.09 on Monday. CarGurus has a 1 year low of $21.18 and a 1 year high of $39.10. The firm’s fifty day simple moving average is $34.61 and its 200 day simple moving average is $29.54. The firm has a market capitalization of $3.74 billion, a P/E ratio of -78.45, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 7,500 shares of CarGurus stock in a transaction on Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the completion of the transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $16,392,751.70. The trade was a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the transaction, the chief executive officer now directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 75,458 shares of company stock worth $2,550,785 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of institutional investors have recently modified their holdings of CARG. Charles Schwab Investment Management Inc. grew its stake in shares of CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares during the last quarter. State Street Corp boosted its position in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after buying an additional 151,862 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in shares of CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after buying an additional 22,004 shares during the period. Alpha DNA Investment Management LLC bought a new stake in shares of CarGurus during the third quarter worth $503,000. Finally, Citigroup Inc. lifted its stake in shares of CarGurus by 31.0% during the third quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock valued at $4,983,000 after acquiring an additional 39,240 shares during the period. 86.90% of the stock is owned by institutional investors.

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.