CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn Sells 4,678 Shares

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 4,678 shares of CarGurus 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 $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

CarGurus Stock Up 3.2 %

Shares of CARG traded up $1.13 during midday trading on Monday, hitting $36.95. The company had a trading volume of 589,727 shares, compared to its average volume of 605,499. The stock has a market cap of $3.83 billion, a price-to-earnings ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $39.10. The company’s 50 day moving average price is $35.90 and its 200 day moving average price is $30.50.

Institutional Trading of CarGurus

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its stake in shares of CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares during the period. State Street Corp raised its holdings in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of CarGurus by 51.9% in the third quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after purchasing an additional 22,004 shares in the last quarter. Alpha DNA Investment Management LLC purchased a new position in CarGurus during the 3rd quarter valued at about $503,000. Finally, Citigroup Inc. grew its position in CarGurus by 31.0% during the third quarter. Citigroup Inc. now owns 165,918 shares of the company’s stock valued at $4,983,000 after purchasing an additional 39,240 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BTIG Research lifted their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Jefferies Financial Group increased their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, DA Davidson upped their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.86.

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.