CarGurus, Inc. (NASDAQ:CARG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $37.86.

A number of analysts recently weighed in on CARG shares. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Oppenheimer upped their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, JMP Securities lifted their target price on CarGurus from $41.00 to $46.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the transaction, the chief marketing officer now directly owns 119,330 shares in the company, valued at $3,572,740.20. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now 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. In the last quarter, insiders have sold 67,958 shares of company stock valued at $2,268,035. 17.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CarGurus

Institutional investors and hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of CarGurus by 51.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock worth $1,934,000 after acquiring an additional 22,004 shares during the period. Alpha DNA Investment Management LLC acquired a new position in shares of CarGurus during the 3rd quarter worth approximately $503,000. Citigroup Inc. increased its holdings in shares of CarGurus by 31.0% during the 3rd quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock worth $4,983,000 after acquiring an additional 39,240 shares during the last quarter. Finally, Intech Investment Management LLC bought a new stake in CarGurus in the 3rd quarter valued at $673,000. 86.90% of the stock is owned by institutional investors.

CarGurus Trading Down 0.2 %

NASDAQ CARG opened at $37.67 on Wednesday. CarGurus has a 12 month low of $21.18 and a 12 month high of $39.10. The stock has a 50-day simple moving average of $34.28 and a 200 day simple moving average of $29.34. The company has a market capitalization of $3.91 billion, a PE ratio of -81.89, a P/E/G ratio of 2.00 and a beta of 1.57.

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.