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

CarGurus, Inc. (NASDAQ:CARG) has earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat Ratings reports. Two 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 objective among brokers that have updated their coverage on the stock in the last year is $37.86.

A number of brokerages have issued reports on CARG. DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their target price on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, JMP Securities restated a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th.

CarGurus Trading Up 1.0 %

Shares of NASDAQ CARG opened at $37.11 on Friday. The stock has a market capitalization of $3.85 billion, a PE ratio of -80.67, a PEG ratio of 2.00 and a beta of 1.58. CarGurus has a twelve month low of $21.18 and a twelve month high of $39.10. The stock has a fifty day simple moving average of $36.23 and a 200-day simple moving average of $30.75.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction 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 transaction, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Matthew Todd Quinn sold 4,678 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the sale, the chief technology officer now owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,521 shares of company stock worth $3,394,774. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Several institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus in the 3rd quarter valued at approximately $28,000. Signaturefd LLC lifted its holdings in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus in the 3rd quarter valued at $30,000. Quarry LP increased its stake in CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after buying an additional 913 shares during the period. Finally, GAMMA Investing LLC increased its stake in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after buying an additional 393 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

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.