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 that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CarGurus Stock Down 0.5 %

CARG stock opened at $36.76 on Wednesday. The company has a market capitalization of $3.81 billion, a PE ratio of -79.91, a P/E/G ratio of 2.00 and a beta of 1.58. The stock’s 50 day moving average is $36.12 and its two-hundred day moving average is $30.71. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $39.10.

Wall Street Analyst Weigh In

CARG has been the subject of several recent research reports. B. Riley increased 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. BTIG Research lifted their target price on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Oppenheimer increased 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. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Finally, DA Davidson boosted their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two equities research 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 company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.86.

Institutional Trading of CarGurus

Several institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC acquired a new position in shares of CarGurus in the 2nd quarter valued at about $415,000. Los Angeles Capital Management LLC lifted its holdings in CarGurus by 28.1% in the second quarter. Los Angeles Capital Management LLC now owns 42,413 shares of the company’s stock worth $1,111,000 after acquiring an additional 9,309 shares during the last quarter. Acadian Asset Management LLC acquired a new position in CarGurus in the second quarter valued at approximately $532,000. LSV Asset Management grew its holdings in shares of CarGurus by 4.7% during the second quarter. LSV Asset Management now owns 59,700 shares of the company’s stock valued at $1,564,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of CarGurus during the 2nd quarter worth approximately $174,000. Institutional investors own 86.90% of the company’s stock.

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.