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

CarGurus, Inc. (NASDAQ:CARG) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $37.86.

A number of research analysts have recently commented on CARG shares. Jefferies Financial Group increased their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Oppenheimer boosted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Needham & Company LLC raised their target price on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th.

CarGurus Price Performance

CarGurus stock opened at $35.82 on Friday. CarGurus has a one year low of $21.18 and a one year high of $39.10. The company’s fifty day moving average price is $35.90 and its two-hundred day moving average price is $30.47. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of -77.87, a PEG ratio of 2.00 and a beta of 1.58.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 7,500 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the sale, the chief operating officer now owns 434,821 shares of the company’s stock, valued at $16,392,751.70. The trade was a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the transaction, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 67,836 shares of company stock valued at $2,324,364 in the last quarter. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

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

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.