CarGurus (NASDAQ:CARG) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of CarGurus (NASDAQ:CARG) from a buy rating to a hold rating in a research note issued to investors on Sunday morning.

Other analysts have also issued reports about the stock. Jefferies Financial Group boosted their target price on shares of 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 report on Thursday, February 5th. Citigroup boosted their price objective on shares of CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. BTIG Research upped their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of “Hold” and a consensus target price of $40.23.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $27.34 on Friday. CarGurus has a fifty-two week low of $24.65 and a fifty-two week high of $40.37. The company 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. The business’s 50 day moving average price is $35.14 and its 200-day moving average price is $34.96.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 16,548 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $39.02, for a total value of $645,702.96. Following the completion of the transaction, the chief executive officer owned 630,483 shares of the company’s stock, valued at $24,601,446.66. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ismail Elshareef sold 1,645 shares of CarGurus 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 completion of the transaction, the insider owned 91,822 shares in the company, valued at $2,957,586.62. This 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 valued at $1,858,494. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of large investors have recently added to or reduced their stakes in CARG. Congress Asset Management Co. acquired a new stake in CarGurus in the 3rd quarter worth approximately $70,856,000. UBS Group AG raised its holdings in shares of CarGurus by 158.2% in the third quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock worth $57,254,000 after buying an additional 942,199 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of CarGurus by 6.6% during the third quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock worth $358,773,000 after buying an additional 594,670 shares during the period. William Blair Investment Management LLC acquired a new stake in shares of CarGurus during the fourth quarter worth $21,756,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of CarGurus by 159,137.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after buying an additional 536,292 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

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.