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 $392,808 were sold by Steinert Langley on Dec 23 ’24. At $35.92 per share, Steinert Langley sold 10,935 shares. The insider’s holdings dropped to 896,122 shares worth approximately $32.74 million following the completion of this transaction.
Also, Steinert Langley sold 1,225 shares, netting a total of over 44,005 in proceeds. Following the sale of shares at $35.92 each, the insider now holds 51,368 shares.
Before that, Steinert Langley had sold 45,406 shares from its account. In a trade valued at $1,691,662, the Executive Chair traded CarGurus Inc shares for $37.26 each. Upon closing the transaction, the insider’s holdings decreased to 45,406 shares, worth approximately $36.46 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 1.73%. Over the course of the year, CarGurus Inc shares have jumped approximately 51.24%. Shares of the company reached a 52-week high of $39.10 on 12/06/24 and a 52-week low of $21.18 on 04/17/24. A 50-day SMA is recorded $35.44, while a 200-day SMA reached $28.15. Nevertheless, trading volume fell to 0.59 million shares from 0.4 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 36.16, which, if violated, would cause prices to drop to 35.77. In the upper region, resistance lies at 37.24. The next price resistance is at 37.94. RSI (Relative Strength Index) is 49.74 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.08, which suggests the price will decrease in the coming days. Percent R is at 68.69%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
