CarGurus (NASDAQ:CARG) Trading Up 2.3%

CarGurus, Inc. (NASDAQ:CARGGet Free Report)’s stock price was up 2.3% during trading on Friday . The stock traded as high as $25.75 and last traded at $25.74. Approximately 93,828 shares traded hands during trading, a decline of 90% from the average daily volume of 937,116 shares. The stock had previously closed at $25.17.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CARG shares. Oppenheimer upped their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. UBS Group increased their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. JPMorgan Chase & Co. increased their price objective on shares of CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, May 10th. Royal Bank of Canada increased their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC increased their price objective on shares of CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and an average target price of $26.13.

View Our Latest Analysis on CARG

CarGurus Trading Up 4.1 %

The company’s fifty day moving average price is $23.27 and its two-hundred day moving average price is $23.10. The firm has a market cap of $2.73 billion, a P/E ratio of 93.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.55.

CarGurus (NASDAQ:CARGGet Free Report) last posted its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The business had revenue of $215.80 million for the quarter, compared to analyst estimates of $217.29 million. On average, analysts predict that CarGurus, Inc. will post 0.98 EPS for the current fiscal year.

Insiders Place Their Bets

In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the sale, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CMO Dafna Sarnoff sold 4,301 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the transaction, the general counsel now directly owns 102,130 shares in the company, valued at approximately $2,553,250. The disclosure for this sale can be found here. Insiders have sold a total of 104,558 shares of company stock valued at $2,468,590 in the last 90 days. 17.20% of the stock is currently owned by insiders.

Institutional Trading of CarGurus

A number of hedge funds have recently modified their holdings of the company. SG Capital Management LLC acquired a new stake in shares of CarGurus in the 1st quarter valued at approximately $4,222,000. Swedbank AB acquired a new stake in shares of CarGurus in the 1st quarter valued at approximately $1,352,000. Price T Rowe Associates Inc. MD raised its holdings in CarGurus by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,448 shares of the company’s stock worth $1,303,000 after buying an additional 2,655 shares during the period. Lazard Asset Management LLC raised its holdings in CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after buying an additional 420 shares during the period. Finally, EntryPoint Capital LLC raised its holdings in CarGurus by 358.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock worth $106,000 after buying an additional 3,593 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

About CarGurus

(Get Free Report)

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.

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