Zachary Emerson Hallowell Sells 4,580 Shares of CarGurus, Inc. (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now directly owns 120,051 shares in the company, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

CarGurus Stock Performance

NASDAQ:CARG opened at $37.11 on Thursday. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $39.10. The stock has a market cap of $3.85 billion, a P/E ratio of -80.67, a P/E/G ratio of 2.00 and a beta of 1.58. The stock has a 50-day simple moving average of $36.12 and a 200-day simple moving average of $30.71.

Institutional Investors Weigh In On CarGurus

Several institutional investors have recently added to or reduced their stakes in the business. Natixis Advisors LLC purchased a new stake in shares of CarGurus during the 2nd quarter worth approximately $415,000. Los Angeles Capital Management LLC lifted its position in CarGurus by 28.1% in the second quarter. Los Angeles Capital Management LLC now owns 42,413 shares of the company’s stock valued at $1,111,000 after acquiring an additional 9,309 shares during the last quarter. Acadian Asset Management LLC acquired a new position in CarGurus in the second quarter valued at $532,000. LSV Asset Management grew its holdings in shares of CarGurus by 4.7% during the second quarter. LSV Asset Management now owns 59,700 shares of the company’s stock worth $1,564,000 after purchasing an additional 2,700 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of CarGurus during the second quarter worth about $174,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CARG. Royal Bank of Canada increased their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. B. Riley raised their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. 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, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $37.86.

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.