Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CarGurus Inc shares valued at $378,449 were sold by Zales Samuel on Apr 16 ’24. At $21.42 per share, Zales Samuel sold 17,668 shares. The insider’s holdings dropped to 548,845 shares worth approximately $12.57 million following the completion of this transaction.
Also, Sarnoff Dafna sold 4,301 shares, netting a total of over 96,600 in proceeds. Following the sale of shares at $22.46 each, the insider now holds 155,617 shares.
Before that, Sarnoff Dafna had sold 4,301 shares from its account. In a trade valued at $99,095, the Chief Marketing Officer traded CarGurus Inc shares for $23.04 each. Upon closing the transaction, the insider’s holdings decreased to 4,301 shares, worth approximately $3.75 million.
As published in a research note from Needham on February 27, 2024, CarGurus Inc [CARG] has been retained to a Buy and the price target has been revised to $24. Analysts at UBS started covering the stock with ‘”a Neutral”‘ outlook in a report released in mid September. As of July 20, 2023, B. Riley Securities has initiated its “Buy” rating for CARG. Earlier on June 27, 2023, JP Morgan initiated its rating. Their recommendation was “an Overweight” for CARG stock.
Analyzing CARG Stock Performance
During the last five days, there has been a surge of approximately 6.36%. Over the course of the year, CarGurus Inc shares have dropped approximately -5.17%. Shares of the company reached a 52-week high of $24.27 on 02/26/24 and a 52-week low of $21.18 on 04/17/24. A 50-day SMA is recorded $22.87, while a 200-day SMA reached $21.09. Nevertheless, trading volume fell to 1.08 million shares from 0.56 million shares the previous day.
Support And Resistance Levels for CarGurus Inc (CARG)
According to the 24-hour chart, there is a support level at 22.65, which, if violated, would cause prices to drop to 22.39. In the upper region, resistance lies at 23.19. The next price resistance is at 23.47. RSI (Relative Strength Index) is 52.00 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.70, which suggests the price will decrease in the coming days. Percent R is at 32.16%, indicating low price movement. Stochastics %K at selling indicates that the stock is to be held.
