Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. CarGurus Inc shares valued at $726,900 were sold by Zales Samuel on Sep 16 ’24. At $28.88 per share, Zales Samuel sold 25,168 shares. The insider’s holdings dropped to 455,415 shares worth approximately $13.93 million following the completion of this transaction.
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Also, Zales Samuel purchased 25,168 shares, netting a total of over 726,899 in proceeds.
Before that, Sarnoff Dafna had sold 3,107 shares from its account. In a trade valued at $88,301, the Chief Marketing Officer traded CarGurus Inc shares for $28.42 each. Upon closing the transaction, the insider’s holdings decreased to 3,107 shares, worth approximately $3.94 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 7.60%. Over the course of the year, CarGurus Inc shares have jumped approximately 26.57%. Shares of the company reached a 52-week high of $30.99 on 09/19/24 and a 52-week low of $21.18 on 04/17/24. A 50-day SMA is recorded $26.84, while a 200-day SMA reached $24.33. Nevertheless, trading volume fell to 0.94 million shares from 0.78 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 30.33, which, if violated, would cause prices to drop to 30.08. In the upper region, resistance lies at 30.91. The next price resistance is at 31.24. RSI (Relative Strength Index) is 68.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.65, which suggests the price will increase in the coming days. Percent R is at 8.61%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
