The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. CarGurus Inc shares valued at $55,104 were sold by Zamora Javier Esquivel on Aug 13 ’24. At $28.00 per share, Zamora Javier Esquivel sold 1,968 shares. The insider’s holdings dropped to 92,669 shares worth approximately $2.57 million following the completion of this transaction.
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Also, Zamora Javier Esquivel sold 2,746 shares, netting a total of over 70,105 in proceeds. Following the sale of shares at $25.53 each, the insider now holds 96,605 shares.
Before that, Zamora Javier Esquivel had sold 1,968 shares from its account. In a trade valued at $53,333, the General Counsel and Secretary traded CarGurus Inc shares for $27.10 each. Upon closing the transaction, the insider’s holdings decreased to 1,968 shares, worth approximately $2.62 million.
As published in a research note from JMP Securities on June 07, 2024, CarGurus Inc [CARG] has been rated up from a Mkt perform to a Mkt outperform and the price target has been revised to $30. Analysts at Needham resumed the stock at ‘”a Buy”‘ outlook in a report released in late February. As of September 15, 2023, UBS has initiated its “Neutral” rating for CARG. Earlier on July 20, 2023, B. Riley Securities initiated its rating. Their recommendation was “a Buy” for CARG stock.
Analyzing CARG Stock Performance
During the last five days, there has been a surge of approximately 25.19%. Over the course of the year, CarGurus Inc shares have jumped approximately 14.57%. Shares of the company reached a 52-week high of $28.67 on 08/14/24 and a 52-week low of $21.18 on 04/17/24. A 50-day SMA is recorded $25.30, while a 200-day SMA reached $23.23. Nevertheless, trading volume fell to 0.76 million shares from 1.22 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 27.34, which, if violated, would cause prices to drop to 27.01. In the upper region, resistance lies at 28.34. The next price resistance is at 29.01. RSI (Relative Strength Index) is 63.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.12, which suggests the price will increase in the coming days. Percent R is at 14.10%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
