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

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 4,678 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $167,378.84. Following the sale, the chief technology officer now owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

CarGurus Stock Up 3.2 %

CarGurus stock traded up $1.13 during mid-day trading on Monday, hitting $36.95. 589,727 shares of the stock were exchanged, compared to its average volume of 605,499. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -80.32, a PEG ratio of 2.00 and a beta of 1.58. The firm’s fifty day simple moving average is $35.90 and its two-hundred day simple moving average is $30.50. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.10.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. BTIG Research upped their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley boosted their price objective on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, 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. Two equities 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’s stock. According to data from MarketBeat, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $37.86.

Institutional Investors Weigh In On CarGurus

A number of hedge funds have recently added to or reduced their stakes in CARG. Nordea Investment Management AB lifted its position in shares of CarGurus by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 313,474 shares of the company’s stock valued at $11,711,000 after purchasing an additional 12,899 shares in the last quarter. GAMMA Investing LLC boosted its stake in CarGurus by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock worth $113,000 after purchasing an additional 640 shares during the period. JPMorgan Chase & Co. grew its position in shares of CarGurus by 2.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock valued at $12,127,000 after purchasing an additional 9,744 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock worth $13,514,000 after purchasing an additional 6,186 shares during the last quarter. Finally, Franklin Resources Inc. raised its position in CarGurus by 0.8% during the third quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock valued at $8,150,000 after purchasing an additional 2,051 shares in the last quarter. 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.