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

CarGurus, Inc. (NASDAQ:CARG) CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 value of $163,872.40.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded up $0.70 during mid-day trading on Tuesday, hitting $38.49. The stock had a trading volume of 835,034 shares, compared to its average volume of 762,007. The company’s 50 day moving average is $36.87 and its 200-day moving average is $31.44. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10. The company has a market cap of $3.99 billion, a PE ratio of -83.67, a P/E/G ratio of 1.67 and a beta of 1.58.

Analysts Set New Price Targets

CARG has been the topic of a number of research reports. B. Riley boosted their price objective on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. BTIG Research raised their price objective on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

Institutional Trading of CarGurus

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after buying an additional 393 shares in the last quarter. Signaturefd LLC boosted its position in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Fifth Third Bancorp grew its stake in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. Point72 DIFC Ltd increased its holdings in shares of CarGurus by 15.2% in the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock valued at $115,000 after purchasing an additional 504 shares during the period. Finally, Central Pacific Bank Trust Division increased its holdings in shares of CarGurus by 5.3% in the 3rd quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock valued at $313,000 after purchasing an additional 520 shares during the period. Hedge funds and other institutional investors 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.