Samuel Zales Sells 7,500 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 7,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00. Following the sale, the chief operating officer now owns 434,821 shares in the company, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were 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 stock was sold at an average price of $31.62, for a total transaction of $795,812.16.

CarGurus Trading Down 0.0 %

CARG stock opened at $36.08 on Friday. The stock has a market cap of $3.74 billion, a P/E ratio of -78.43, a PEG ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The company’s 50 day moving average is $34.83 and its two-hundred day moving average is $29.63.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. State Street Corp boosted its stake in CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after purchasing an additional 74,730 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after purchasing an additional 89,346 shares during the period. Prevatt Capital Ltd grew its stake in CarGurus by 7.0% during the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after buying an additional 80,000 shares during the last quarter. Finally, Select Equity Group L.P. increased its position in CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after buying an additional 31,431 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CARG has been the topic of a number of recent research reports. BTIG Research upped their price objective on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. DA Davidson increased their price target on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Oppenheimer boosted their price target on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

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.