Analysts Set CarGurus, Inc. (NASDAQ:CARG) PT at $38.41

CarGurus, Inc. (NASDAQ:CARG) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $38.41.

A number of research firms have recently issued reports on CARG. BTIG Research raised their price target on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. DA Davidson raised 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. Needham & Company LLC boosted their price target on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Oppenheimer increased 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. Finally, Jefferies Financial Group boosted their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd.

CarGurus Trading Down 3.3 %

Shares of CARG stock opened at $39.20 on Thursday. CarGurus has a 12-month low of $21.18 and a 12-month high of $41.33. The stock has a market capitalization of $4.07 billion, a P/E ratio of -85.22, a P/E/G ratio of 1.79 and a beta of 1.58. The firm’s 50 day moving average is $37.51 and its 200 day moving average is $32.28.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24. Following the completion of the transaction, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 74,556 shares of company stock valued at $2,682,940 over the last 90 days. 17.20% of the stock is currently owned by corporate insiders.

Institutional Trading of CarGurus

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Street Corp grew its position in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $31,328,000 after buying an additional 89,815 shares during the last quarter. Alpha DNA Investment Management LLC purchased a new position in CarGurus during the 3rd quarter valued at approximately $503,000. Los Angeles Capital Management LLC increased its stake in CarGurus by 51.9% in 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 last quarter. Finally, Friedenthal Financial bought a new stake in CarGurus in the 4th quarter worth approximately $767,000. 86.90% of the stock is currently owned by institutional investors.

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.