CarGurus, Inc. (NASDAQ:CARG) Position Boosted by Fmr LLC

Fmr LLC lifted its stake in CarGurus, Inc. (NASDAQ:CARG) by 91.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,840 shares of the company’s stock after purchasing an additional 6,599 shares during the quarter. Fmr LLC’s holdings in CarGurus were worth $416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus during the 3rd quarter valued at $30,000. CWM LLC grew its holdings in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 4,127 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the transaction, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at $3,572,740.20. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,458 shares of company stock worth $2,550,785 in the last quarter. 17.20% of the stock is currently owned by company insiders.

CarGurus Trading Down 0.0 %

Shares of CarGurus stock opened at $36.08 on Friday. The firm has a fifty day simple moving average of $34.72 and a 200-day simple moving average of $29.58. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -78.43, a PEG ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CARG shares. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price target on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada increased their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. B. Riley lifted 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, Needham & Company LLC increased their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.86.

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.