Janney Montgomery Scott LLC Has $338,000 Holdings in CarGurus, Inc. (NASDAQ:CARG)

Janney Montgomery Scott LLC lifted its stake in CarGurus, Inc. (NASDAQ:CARG) by 10.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,244 shares of the company’s stock after purchasing an additional 845 shares during the period. Janney Montgomery Scott LLC’s holdings in CarGurus were worth $338,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CARG. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the 3rd quarter valued at approximately $28,000. USA Financial Formulas acquired a new position in CarGurus in the 4th quarter worth $35,000. Signaturefd LLC lifted its position in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of CarGurus during the 3rd quarter worth about $30,000. Finally, Quarry LP raised its position in CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Up 1.0 %

Shares of CARG opened at $39.96 on Tuesday. The business has a 50-day simple moving average of $37.76 and a two-hundred day simple moving average of $32.90. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33. The stock has a market cap of $4.14 billion, a PE ratio of -86.87, a PEG ratio of 1.79 and a beta of 1.59.

Insider Buying and Selling

In other news, CEO Jason Trevisan sold 10,000 shares of the business’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 value of $354,100.00. Following the transaction, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 94,556 shares of company stock worth $3,450,140 in the last ninety days. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of research analyst reports. Jefferies Financial Group lifted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. DA Davidson raised their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC lifted their price objective on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, B. Riley increased their target price on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.41.

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.