CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its stake in CarGurus, Inc. (NASDAQ:CARG) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 115,444 shares of the company’s stock after selling 2,796 shares during the period. Massachusetts Financial Services Co. MA’s holdings in CarGurus were worth $3,467,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of CarGurus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after acquiring an additional 107,244 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after acquiring an additional 89,346 shares during the period. Select Equity Group L.P. lifted its stake in shares of CarGurus by 2.8% in the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after acquiring an additional 31,431 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its stake in CarGurus by 26.5% during the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after purchasing an additional 228,380 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in CarGurus by 2.2% during the second quarter. Raymond James & Associates now owns 534,939 shares of the company’s stock valued at $14,015,000 after purchasing an additional 11,584 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,495 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the transaction, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. This represents a 1.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the transaction, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,065 shares of company stock worth $2,356,336. 17.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on CARG shares. Oppenheimer increased their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Jefferies Financial Group increased their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley increased their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, JMP Securities increased their target price on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $36.46 on Wednesday. The company has a market cap of $3.78 billion, a PE ratio of -79.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The firm has a 50 day simple moving average of $32.00 and a 200 day simple moving average of $27.96. CarGurus, Inc. has a 52 week low of $21.02 and a 52 week high of $37.94.

CarGurus 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.