CarGurus (NASDAQ:CARG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CarGurus (NASDAQ:CARG) from a hold rating to a buy rating in a report published on Saturday morning.

A number of other brokerages have also weighed in on CARG. Needham & Company LLC dropped their price target on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, February 5th. Zacks Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. BTIG Research upped their target price on CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Tuesday, December 30th. Finally, DA Davidson set a $37.50 target price on CarGurus in a research note on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, CarGurus presently has a consensus rating of “Hold” and a consensus price target of $40.23.

CarGurus Stock Down 0.3%

NASDAQ:CARG opened at $28.51 on Friday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 19.39, a PEG ratio of 1.08 and a beta of 1.35. CarGurus has a 52 week low of $24.65 and a 52 week high of $40.37. The firm has a 50 day moving average of $35.80 and a 200 day moving average of $35.13.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $37.00, for a total value of $740,000.00. Following the completion of the transaction, the chief executive officer directly owned 655,483 shares of the company’s stock, valued at approximately $24,252,871. The trade was a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Ismail Elshareef sold 1,645 shares of CarGurus stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.21, for a total transaction of $52,985.45. Following the transaction, the insider directly owned 91,822 shares of the company’s stock, valued at approximately $2,957,586.62. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 49,003 shares of company stock worth $1,858,494. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CARG. Wellington Management Group LLP increased its stake in shares of CarGurus by 6.6% in the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after purchasing an additional 594,670 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of CarGurus by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 2,101,437 shares of the company’s stock valued at $80,602,000 after buying an additional 24,910 shares in the last quarter. Prevatt Capital Ltd grew its stake in CarGurus by 28.1% in the 3rd quarter. Prevatt Capital Ltd now owns 2,050,000 shares of the company’s stock valued at $76,322,000 after acquiring an additional 450,000 shares during the period. Congress Asset Management Co. raised its position in CarGurus by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock worth $75,095,000 after acquiring an additional 54,937 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in CarGurus by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock valued at $64,093,000 after purchasing an additional 6,676 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.