CarGurus CEO Zachary Hallowell Sells Shares

On January 3rd, 2025, Zachary Emerson Hallowell, the CEO of CarGurus, Inc. (NASDAQ:CARG), sold 4,580 shares of the company’s stock. The shares were sold at an average price of $35.78, amounting to a total of $163,872.40 for this transaction. After completing the sale, Hallowell now directly holds 120,051 shares of CarGurus, with a value of approximately $4,295,424.78. This transaction marks a decrease of 3.67% in his holdings and was officially reported in a filing to the Securities and Exchange Commission (SEC).

Company’s Stock Performance

As of Tuesday, the stock opened at $36.95. Over the past months, CarGurus has shown varying performance levels, with its 50-day moving average at $36.01 and a two-hundred day moving average at $30.62. The company's stock has experienced a 12-month low of $21.18 and a high of $39.10. CarGurus currently has a market capitalization of $3.83 billion, along with a P/E ratio of -80.32, a PEG ratio of 2.00, and a beta of 1.58.

Analyst Ratings and Predictions

Recent research reports have focused on CarGurus. JMP Securities reissued a “market outperform” rating with a price target set at $46.00 on December 16th. BTIG Research raised their target from $30.00 to $35.00, maintaining a “buy” rating. Meanwhile, DA Davidson adjusted their price target from $26.50 to $38.50 while keeping a “neutral” rating. B. Riley also increased their target from $30.00 to $40.00 with a “buy” rating, and Oppenheimer raised theirs from $32.00 to $44.00 with an “outperform” rating. Currently, data from MarketBeat.com indicates that the average rating for the stock is “Moderate Buy” with a consensus price target of $37.86.

Institutional Investment Activity

There have been notable changes in institutional trading concerning CarGurus. Point72 Hong Kong Ltd acquired a new stake during the third quarter valued at around $28,000. Signaturefd LLC significantly increased its holdings by 81.3% during the same quarter. After purchasing additional shares, Signaturefd now holds 959 shares worth $29,000. Other investors, like Kathleen S. Wright Associates Inc. and Quarry LP, have also increased their stakes, with Quarry LP now owning 1,499 shares worth $45,000. Currently, institutional investors and hedge funds own 86.90% of the company's stock.

About CarGurus

CarGurus, Inc. operates a global online automotive platform facilitating vehicle buying and selling processes. The company works through various segments, primarily focusing on the U.S. Marketplace and Digital Wholesale. They offer customers access to an extensive online automotive marketplace that provides new and used car listings from dealers, and they also provide platforms for individuals to sell their cars to dealers and other consumers. Paid subscriptions are available for additional listings to connect dealers with a wider audience of engaged consumers.

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