CarGurus (NASDAQ:CARG) Sets New 1-Year High at $29.54

CarGurus, Inc. (NASDAQ:CARG)’s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.54 and last traded at $29.31, with a volume of 27838 shares traded. The stock had previously closed at $28.99.

Analyst Ratings Changes

A number of research analysts recently commented on CARG shares. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 price target on shares of CarGurus in a research note on Monday, September 9th. B. Riley upped their price objective on 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 lifted their target price on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. DA Davidson restated a “neutral” rating and issued a $26.50 price target on shares of CarGurus in a research report on Tuesday, September 10th. Finally, BTIG Research raised their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

CarGurus Stock Up 1.4 %

The stock has a market capitalization of $3.04 billion, a P/E ratio of 103.54, a P/E/G ratio of 1.33 and a beta of 1.56. The firm has a fifty day moving average price of $26.61 and a two-hundred day moving average price of $24.71.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The company had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. Sell-side analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the sale, the chief technology officer now owns 217,374 shares in the company, valued at $5,414,786.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the transaction, the chief operating officer now owns 488,083 shares of the company’s stock, valued at $12,929,318.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Matthew Todd Quinn sold 3,978 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the sale, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The disclosure for this sale can be found here. Insiders sold 57,421 shares of company stock worth $1,567,354 over the last 90 days. 17.20% of the stock is owned by insiders.

Institutional Investors Weigh In On CarGurus

A number of institutional investors have recently added to or reduced their stakes in CARG. Prevatt Capital Ltd purchased a new position in shares of CarGurus during the 4th quarter worth $24,160,000. Pale Fire Capital SE acquired a new position in shares of CarGurus in the 4th quarter valued at $1,800,000. UniSuper Management Pty Ltd purchased a new position in shares of CarGurus during the first quarter worth about $483,000. Capstone Investment Advisors LLC acquired a new position in CarGurus during the first quarter worth approximately $1,315,000. Finally, Jennison Associates LLC purchased a new stake in CarGurus in the 1st quarter valued at $707,000. 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.