CarGurus, Inc. (NASDAQ:CARG) CEO Sells $354,100.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the sale, the chief executive officer now owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

CarGurus Stock Performance

NASDAQ:CARG traded down $0.29 during mid-day trading on Wednesday, hitting $35.16. 644,884 shares of the stock were exchanged, compared to its average volume of 823,977. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of -77.06, a price-to-earnings-growth ratio of 1.95 and a beta of 1.55. The firm’s 50-day simple moving average is $31.43 and its 200 day simple moving average is $27.60. CarGurus, Inc. has a fifty-two week low of $20.63 and a fifty-two week high of $37.94.

Institutional Trading of CarGurus

Several hedge funds have recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in CarGurus during the 3rd quarter worth $28,000. Signaturefd LLC increased its stake in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in CarGurus during the 3rd quarter worth $30,000. CWM LLC increased its stake in shares of CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 485 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CARG. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer boosted their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research boosted their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their target price on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Needham & Company LLC lifted their price target on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.41.

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.