CarGurus (NASDAQ:CARG) Stock Rating Lowered by Wall Street Zen

CarGurus (NASDAQ:CARG) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Sunday.

A number of other equities research analysts have also recently weighed in on CARG. Jefferies Financial Group boosted their price objective on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. BTIG Research lifted their target price on shares of CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a report on Tuesday, December 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CarGurus in a research report on Monday, December 29th. DA Davidson set a $37.50 price objective on shares of CarGurus in a research report on Monday, November 17th. Finally, Citigroup upped their target price on shares of CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $40.23.

CarGurus Stock Performance

Shares of CARG stock opened at $27.34 on Friday. The stock’s 50-day moving average is $34.97 and its two-hundred day moving average is $34.93. CarGurus has a 1 year low of $24.65 and a 1 year high of $40.37. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 18.60, a PEG ratio of 1.03 and a beta of 1.35.

Insider Buying and Selling

In related news, CEO Jason Trevisan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $37.00, for a total value of $740,000.00. Following the completion of the sale, the chief executive officer owned 655,483 shares in the company, valued at $24,252,871. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ismail Elshareef sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $32.21, for a total value of $52,985.45. Following the transaction, the insider owned 91,822 shares in the company, valued at $2,957,586.62. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,003 shares of company stock valued at $1,858,494 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Congress Asset Management Co. acquired a new position in shares of CarGurus during the 3rd quarter worth $70,856,000. UBS Group AG increased its holdings in CarGurus by 158.2% in the third quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock valued at $57,254,000 after buying an additional 942,199 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CarGurus by 6.6% during the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after acquiring an additional 594,670 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of CarGurus during the 4th quarter worth approximately $21,756,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in CarGurus by 159,137.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after purchasing an additional 536,292 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

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.