Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. CarGurus Inc shares valued at $795,812 were sold by Zales Samuel on Oct 16 ’24. At $31.62 per share, Zales Samuel sold 25,168 shares. The insider’s holdings dropped to 449,821 shares worth approximately $15.01 million following the completion of this transaction.
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Also, Zales Samuel purchased 25,168 shares, netting a total of over 795,853 in proceeds.
Before that, Sarnoff Dafna had sold 5,264 shares from its account. In a trade valued at $154,920, the Chief Marketing Officer traded CarGurus Inc shares for $29.43 each. Upon closing the transaction, the insider’s holdings decreased to 5,264 shares, worth approximately $3.81 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 7.54%. Over the course of the year, CarGurus Inc shares have jumped approximately 38.08%. Shares of the company reached a 52-week high of $33.95 on 11/07/24 and a 52-week low of $21.18 on 04/17/24. A 50-day SMA is recorded $30.14, while a 200-day SMA reached $25.69. Nevertheless, trading volume fell to 1.09 million shares from 0.86 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 32.78, which, if violated, would cause prices to drop to 32.20. In the upper region, resistance lies at 33.94. The next price resistance is at 34.53. RSI (Relative Strength Index) is 71.44 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.88, which suggests the price will decrease in the coming days. Percent R is at 15.28%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
