CarGurus (NASDAQ:CARG) Reaches New 52-Week High at $24.76

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $24.76 and last traded at $24.53, with a volume of 44473 shares changing hands. The stock had previously closed at $24.49.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, May 10th. UBS Group upped their price objective on CarGurus from $26.00 to $27.00 and gave the stock a "neutral" rating in a research note on Friday, March 15th. Oppenheimer lifted their target price on CarGurus from $26.00 to $30.00 and gave the company an "outperform" rating in a research note on Tuesday, February 27th. JMP Securities restated a "market perform" rating on shares of CarGurus in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada increased their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and an average target price of $25.77.

CarGurus Price Performance

The firm has a market cap of $2.68 billion, a P/E ratio of 89.14, a price-to-earnings-growth ratio of 1.46 and a beta of 1.57. The company's 50-day simple moving average is $22.87 and its 200 day simple moving average is $22.49.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The firm had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. During the same quarter last year, the firm earned $0.25 EPS. The firm's revenue for the quarter was down 22.2% compared to the same quarter last year. Analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

Insider Activity

In other news, CMO Dafna Sarnoff sold 4,301 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now owns 163,798 shares in the company, valued at approximately $3,773,905.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other CarGurus news, COO Samuel Zales sold 17,668 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now directly owns 564,609 shares in the company, valued at approximately $12,545,611.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the transaction, the chief marketing officer now directly owns 163,798 shares in the company, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,793 shares of company stock valued at $2,523,342. 15.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On CarGurus

Large investors have recently modified their holdings of the business. Lazard Asset Management LLC increased its holdings in shares of CarGurus by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company's stock valued at $450,000 after acquiring an additional 420 shares during the period. M&T Bank Corp grew its stake in CarGurus by 0.8% in the third quarter. M&T Bank Corp now owns 104,052 shares of the company's stock valued at $1,823,000 after purchasing an additional 850 shares during the last quarter. Texas Permanent School Fund Corp raised its holdings in CarGurus by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 74,986 shares of the company's stock worth $1,731,000 after purchasing an additional 980 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of CarGurus by 5.6% during the first quarter. ProShare Advisors LLC now owns 19,116 shares of the company's stock valued at $441,000 after buying an additional 1,018 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of CarGurus in the 4th quarter valued at about $32,000. Institutional investors own 86.90% of the company's stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.