CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell Sells 2,203 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Zachary Emerson Hallowell also recently made the following trade(s):

• On Friday, January 3rd, Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40.

CarGurus Stock Performance

NASDAQ:CARG opened at $38.49 on Wednesday. The firm has a 50-day simple moving average of $36.87 and a two-hundred day simple moving average of $31.44. The firm has a market cap of $3.99 billion, a P/E ratio of -83.67, a P/E/G ratio of 1.67 and a beta of 1.58. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10.

Wall Street Analyst Weigh In

CARG has been the subject of a number of research reports. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. raised their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. BTIG Research raised their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

Hedge Funds Weigh In On CarGurus

Hedge funds have recently added to or reduced their stakes in the company. Linden Thomas Advisory Services LLC bought a new stake in shares of CarGurus in the 4th quarter worth $201,000. Fifth Third Bancorp boosted its position in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in CarGurus by 10.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,244 shares of the company’s stock worth $338,000 after buying an additional 845 shares in the last quarter. SG Americas Securities LLC raised its position in CarGurus by 146.3% in the 4th quarter. SG Americas Securities LLC now owns 17,303 shares of the company’s stock worth $632,000 after buying an additional 10,278 shares during the last quarter. Finally, Dakota Wealth Management bought a new position in CarGurus during the 4th quarter valued at about $902,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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.