Massachusetts Financial Services Co. MA Raises Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Massachusetts Financial Services Co. MA grew its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 3.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,240 shares of the company’s stock after buying an additional 3,967 shares during the period. Massachusetts Financial Services Co. MA owned 0.11% of CarGurus worth $3,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Lazard Asset Management LLC increased its stake in shares of CarGurus by 2.2% in the first quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after purchasing an additional 420 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after buying an additional 425 shares in the last quarter. Raymond James Trust N.A. boosted its holdings in CarGurus by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after buying an additional 450 shares during the period. Nisa Investment Advisors LLC increased its stake in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares in the last quarter. Finally, CWM LLC increased its stake in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Transactions at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the sale, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 57,421 shares of company stock worth $1,567,354. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Performance

Shares of CarGurus stock opened at $30.35 on Friday. The stock has a 50 day moving average price of $27.01 and a 200-day moving average price of $24.91. CarGurus, Inc. has a one year low of $16.70 and a one year high of $30.99. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 108.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The firm had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. Sell-side analysts predict that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. BTIG Research upped their price objective on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. DA Davidson restated a “neutral” rating and issued a $26.50 price target on shares of CarGurus in a research note on Tuesday, September 10th. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. Needham & Company LLC lifted their price target on shares of CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Citigroup boosted their price target on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.35.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.