CarGurus (NASDAQ:CARG) Upgraded at Citigroup

Citigroup upgraded shares of CarGurus (NASDAQ:CARG) from a hold rating to a strong-buy rating in a research report released on Monday,Zacks.com reports.

Several other equities research analysts have also issued reports on CARG. BTIG Research lifted their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley increased their price target on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. Oppenheimer boosted their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Needham & Company LLC raised their target price on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.41.

CarGurus Stock Down 2.5 %

NASDAQ:CARG opened at $36.57 on Monday. The company has a market cap of $3.78 billion, a P/E ratio of -79.50, a price-to-earnings-growth ratio of 2.09 and a beta of 1.55. CarGurus has a twelve month low of $18.90 and a twelve month high of $37.94. The business has a 50 day moving average price of $30.76 and a two-hundred day moving average price of $27.20.

Insider Transactions at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the sale, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at $3,572,740.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $28.34, for a total transaction of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,065 shares of company stock worth $1,823,794. Company insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. Lazard Asset Management LLC increased its stake in shares of CarGurus by 2.2% in the first quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock valued at $450,000 after buying an additional 420 shares during the period. Signaturefd LLC raised its holdings in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the last quarter. Raymond James Trust N.A. boosted its position in CarGurus by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after buying an additional 450 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.