CarGurus, Inc. (NASDAQ:CARG) Receives Consensus Rating of “Hold” from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned an average rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.2273.

CARG has been the topic of a number of analyst reports. BTIG Research upped their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Tuesday, December 30th. Needham & Company LLC lowered their price objective on CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Wall Street Zen cut CarGurus from a “buy” rating to a “hold” rating in a research report on Sunday. Citigroup increased their price target on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Finally, Jefferies Financial Group raised their price objective on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th.

Insider Buying and Selling

In other CarGurus news, CEO Jason Trevisan sold 20,000 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $37.00, for a total value of $740,000.00. Following the completion of the sale, the chief executive officer owned 655,483 shares in the company, valued at approximately $24,252,871. This trade represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ismail Elshareef sold 1,645 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.21, for a total value of $52,985.45. Following the completion of the transaction, the insider directly owned 91,822 shares of the company’s stock, valued at approximately $2,957,586.62. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 49,003 shares of company stock worth $1,858,494. 17.20% of the stock is owned by insiders.

Institutional Trading of CarGurus

Large investors have recently added to or reduced their stakes in the stock. Congress Asset Management Co. bought a new position in shares of CarGurus during the 3rd quarter valued at approximately $70,856,000. UBS Group AG grew its holdings in CarGurus by 158.2% during the third quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock valued at $57,254,000 after purchasing an additional 942,199 shares during the period. Wellington Management Group LLP increased its position in CarGurus by 6.6% in the third quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock worth $358,773,000 after buying an additional 594,670 shares during the last quarter. William Blair Investment Management LLC purchased a new stake in CarGurus in the fourth quarter worth $21,756,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of CarGurus by 159,137.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after buying an additional 536,292 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Up 1.4%

Shares of CARG opened at $27.34 on Monday. The stock has a market cap of $2.61 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.03 and a beta of 1.35. The business’s fifty day moving average is $35.14 and its 200 day moving average is $34.96. CarGurus has a 12-month low of $24.65 and a 12-month high of $40.37.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.