CarGurus (NASDAQ:CARG) Stock Price Expected to Rise, JMP Securities Analyst Says

CarGurus (NASDAQ:CARG) had its price target hoisted by JMP Securities from $32.00 to $41.00 in a report released on Monday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other analysts have also recently weighed in on CARG. Jefferies Financial Group increased their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley increased their price target on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC increased their price objective on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. DA Davidson increased their price objective on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, BTIG Research increased their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.41.

CarGurus Trading Down 2.5 %

CARG stock opened at $36.57 on Monday. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -79.50, a PEG ratio of 2.09 and a beta of 1.55. CarGurus has a 12 month low of $18.90 and a 12 month high of $37.94. The firm has a 50-day moving average of $30.76 and a two-hundred day moving average of $27.20.

Insider Activity at CarGurus

In related news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other CarGurus news, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the transaction, the chief technology officer now directly owns 205,696 shares in the company, valued at approximately $6,053,633.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of CarGurus stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock valued at $1,823,794 over the last ninety days. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Blueshift Asset Management LLC purchased a new stake in shares of CarGurus in the third quarter valued at approximately $276,000. Bridgewater Associates LP boosted its stake in shares of CarGurus by 24.1% in the third quarter. Bridgewater Associates LP now owns 68,000 shares of the company’s stock valued at $2,042,000 after buying an additional 13,195 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of CarGurus by 69.8% in the third quarter. BNP Paribas Financial Markets now owns 76,485 shares of the company’s stock valued at $2,297,000 after buying an additional 31,451 shares in the last quarter. FMR LLC boosted its stake in shares of CarGurus by 91.1% in the third quarter. FMR LLC now owns 13,840 shares of the company’s stock valued at $416,000 after buying an additional 6,599 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of CarGurus in the third quarter valued at approximately $21,052,000. 86.90% of the stock is currently owned by hedge funds and other 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.