Zachary Emerson Hallowell Sells 4,580 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

CarGurus Stock Performance

NASDAQ CARG traded up $1.13 on Monday, reaching $36.95. 589,727 shares of the company’s stock traded hands, compared to its average volume of 605,499. The stock has a 50 day moving average price of $35.90 and a 200-day moving average price of $30.50. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of -80.32, a P/E/G ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10.

Wall Street Analyst Weigh In

Several research analysts recently commented on CARG shares. Royal Bank of Canada boosted their price objective 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. JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC boosted their target price on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. B. Riley raised their price target on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Oppenheimer upped their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Institutional Trading of CarGurus

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in shares of CarGurus by 4.3% during the 4th quarter. Nordea Investment Management AB now owns 313,474 shares of the company’s stock valued at $11,711,000 after acquiring an additional 12,899 shares during the period. GAMMA Investing LLC boosted its position in CarGurus by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock worth $113,000 after purchasing an additional 640 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in CarGurus by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock valued at $12,127,000 after purchasing an additional 9,744 shares during the period. Principal Financial Group Inc. increased its position in shares of CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock valued at $13,514,000 after buying an additional 6,186 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of CarGurus by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock worth $8,150,000 after buying an additional 2,051 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.