Samuel Zales Sells 9,857 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 9,857 shares of CarGurus stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the sale, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at approximately $15,923,145.02. This represents a 2.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Samuel Zales also recently made the following trade(s):

• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The stock was sold at an average price of $37.70, for a total value of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24.
• On Wednesday, October 16th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $36.76 on Wednesday. The firm has a fifty day moving average of $36.12 and a 200 day moving average of $30.71. The firm has a market cap of $3.81 billion, a PE ratio of -79.91, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10.

Institutional Trading of CarGurus

A number of institutional investors and hedge funds have recently modified their holdings of CARG. Point72 Hong Kong Ltd purchased a new position in CarGurus in the 3rd quarter valued at about $28,000. Signaturefd LLC raised its holdings in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CarGurus in the third quarter valued at approximately $30,000. Quarry LP boosted its stake in shares of CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of several recent research reports. Oppenheimer raised their target price on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC lifted their price objective on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. DA Davidson lifted their price target on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

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.