Insider Selling: CarGurus, Inc. (NASDAQ:CARG) COO Sells $767,200.00 in Stock

CarGurus, Inc. (NASDAQ:CARG) COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Samuel Zales also recently made the following trade(s):

• On Thursday, January 2nd, Samuel Zales sold 9,857 shares of CarGurus stock. The stock was sold at an average price of $36.62, for a total value of $360,963.34.
• On Monday, December 16th, Samuel Zales sold 7,500 shares of CarGurus stock. The stock was sold at an average price of $37.70, for a total value of $282,750.00.
• On Monday, November 18th, Samuel Zales sold 25,168 shares of CarGurus stock. The shares were sold at an average price of $35.43, for a total value of $891,702.24.

CarGurus Price Performance

CARG stock opened at $39.03 on Friday. The company has a 50 day moving average price of $37.66 and a 200 day moving average price of $32.56. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The stock has a market capitalization of $4.05 billion, a PE ratio of -84.85, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59.

Analyst Ratings Changes

A number of research firms have weighed in on CARG. Jefferies Financial Group lifted their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Oppenheimer lifted their price objective on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. 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 company. According to data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $38.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CARG. Algert Global LLC bought a new position in CarGurus in the 2nd quarter worth approximately $223,000. SG Americas Securities LLC bought a new stake in shares of CarGurus during the 3rd quarter valued at $211,000. GAMMA Investing LLC raised its position in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after acquiring an additional 393 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus during the 3rd quarter valued at $30,000. Finally, Creative Planning raised its position in shares of CarGurus by 152.3% during the 3rd quarter. Creative Planning now owns 25,391 shares of the company’s stock valued at $762,000 after acquiring an additional 15,328 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

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.