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

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

CARG has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Needham & Company LLC decreased their price objective on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CarGurus in a report on Monday, December 29th. Citigroup boosted their price target on CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Finally, BTIG Research increased their price target on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $40.23.

CarGurus Stock Performance

NASDAQ CARG opened at $27.34 on Friday. The company has a fifty day moving average of $35.14 and a 200-day moving average of $34.95. CarGurus has a 52-week low of $24.65 and a 52-week high of $40.37. The company has a market capitalization of $2.61 billion, a P/E ratio of 18.60, a P/E/G ratio of 1.03 and a beta of 1.35.

Insider Buying and Selling at CarGurus

In related news, insider Jennifer Ladd Hanson sold 2,358 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $38.10, for a total transaction of $89,839.80. Following the completion of the transaction, the insider directly owned 50,466 shares of the company’s stock, valued at approximately $1,922,754.60. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ismail Elshareef sold 1,645 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were 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 approximately $2,957,586.62. This represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 49,003 shares of company stock valued at $1,858,494. 16.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in CarGurus by 22.6% in the first quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock worth $2,186,000 after purchasing an additional 13,834 shares during the last quarter. AQR Capital Management LLC raised its stake in CarGurus by 25.4% in the first quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock valued at $756,000 after buying an additional 5,259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarGurus by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock worth $1,889,000 after acquiring an additional 1,890 shares during the period. Jane Street Group LLC boosted its position in CarGurus by 113.0% during the first quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock worth $3,592,000 after acquiring an additional 65,420 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of CarGurus by 19.3% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 16,522 shares of the company’s stock valued at $553,000 after acquiring an additional 2,674 shares during the period. 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.