CarGurus (NASDAQ:CARG) Stock Gets Price Target Trim from JPMorgan Chase & Co.

CarGurus (NASDAQ:CARG) had its price objective decreased by JPMorgan Chase & Co. from $42.00 to $37.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. B. Riley Financial restated a “buy” rating on shares of CarGurus in a research report on Friday, August 7th. UBS Group lowered their price target on shares of CarGurus from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Needham & Company LLC increased their price target on shares of CarGurus from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Citigroup lifted their price objective on CarGurus from $32.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $39.75.

CarGurus Price Performance

NASDAQ:CARG opened at $33.74 on Friday. The company has a market capitalization of $3.01 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 1.20 and a beta of 1.22. CarGurus has a 52-week low of $26.39 and a 52-week high of $41.22. The stock has a fifty day simple moving average of $32.17 and a 200-day simple moving average of $32.85.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.66 by $0.04. The business had revenue of $258.37 million for the quarter, compared to analyst estimates of $256.46 million. CarGurus had a net margin of 18.51% and a return on equity of 68.43%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. As a group, equities analysts anticipate that CarGurus will post 2.17 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $32.33, for a total transaction of $323,300.00. Following the completion of the transaction, the chief operating officer owned 419,735 shares of the company’s stock, valued at $13,570,032.55. This represents a 2.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg Schwartz sold 10,000 shares of the stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the transaction, the director owned 8,716 shares in the company, valued at approximately $314,386.12. The trade was a 53.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,846 shares of company stock worth $2,803,095 over the last ninety days. Insiders own 18.19% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of CARG. Russell Investments Group Ltd. boosted its holdings in shares of CarGurus by 14.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 277,349 shares of the company’s stock valued at $8,642,000 after purchasing an additional 35,876 shares during the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of CarGurus during the 3rd quarter valued at $25,000. Gagnon Securities LLC increased its holdings in shares of CarGurus by 0.4% during the 3rd quarter. Gagnon Securities LLC now owns 368,573 shares of the company’s stock worth $11,485,000 after buying an additional 1,500 shares during the last quarter. Maryland State Retirement & Pension System raised its position in shares of CarGurus by 53.6% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,892 shares of the company’s stock worth $526,000 after buying an additional 5,896 shares during the period. Finally, Ritholtz Wealth Management raised its position in shares of CarGurus by 8.5% in the 3rd quarter. Ritholtz Wealth Management now owns 12,827 shares of the company’s stock worth $400,000 after buying an additional 1,003 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace that helps consumers research and compare vehicles and connect with dealerships. Its website and mobile apps feature new and used vehicle listings, search tools, vehicle information and pricing insights designed to help shoppers evaluate available cars.

The company also provides dealerships with products and services to market inventory and engage with potential buyers through its platform. CarGurus was founded in 2006 by Langley Steinert, who previously co-founded TripAdvisor, and is headquartered in Cambridge, Massachusetts.

CarGurus serves customers and dealerships in the United States, Canada and the United Kingdom.