CarGurus Inc (CARG) General Counsel Sells $99,439.76 in Stock

CarGurus Inc (NASDAQ:CARG) General Counsel Kathleen Bender Patton sold 2,501 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $39.76, for a total transaction of $99,439.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of CarGurus stock traded down $0.57 during trading hours on Friday, hitting $38.52. The company had a trading volume of 1,172,400 shares, compared to its average volume of 685,982. CarGurus Inc has a twelve month low of $29.18 and a twelve month high of $57.25. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of 67.58, a PEG ratio of 37.65 and a beta of 1.97.

A number of equities research analysts have commented on CARG shares. CIBC started coverage on shares of CarGurus in a research report on Wednesday, January 9th. They issued an “outperform” rating and a $42.00 price objective on the stock. Oppenheimer started coverage on shares of CarGurus in a research report on Tuesday, January 8th. They issued a “buy” rating and a $42.00 price objective on the stock. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. SunTrust Banks assumed coverage on shares of CarGurus in a report on Monday, November 19th. They issued a “buy” rating and a $49.00 target price for the company. Finally, Citigroup upped their target price on shares of CarGurus from $45.00 to $52.00 and gave the company a “buy” rating in a report on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $49.40.

Several institutional investors have recently modified their holdings of CARG. NumerixS Investment Technologies Inc acquired a new position in shares of CarGurus in the 4th quarter valued at $30,000. Quantamental Technologies LLC acquired a new position in shares of CarGurus in the 4th quarter valued at $78,000. NEXT Financial Group Inc boosted its holdings in shares of CarGurus by 50.1% in the 4th quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock valued at $187,000 after buying an additional 1,855 shares in the last quarter. LPL Financial LLC acquired a new stake in CarGurus during the 3rd quarter worth $234,000. Finally, United Services Automobile Association acquired a new stake in CarGurus during the 3rd quarter worth $240,000. Institutional investors and hedge funds own 72.07% of the company’s stock.

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CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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