CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Fmr LLC

Fmr LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 91.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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.

Several other hedge funds have also made changes to their positions in CARG. Signaturefd LLC boosted its position in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in CarGurus in the 3rd quarter valued at approximately $30,000. CWM LLC raised its stake in 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 boosted its position in CarGurus by 43.5% during the 2nd 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 period. Finally, GAMMA Investing LLC grew its stake in shares of CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer lifted their price objective 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. Jefferies Financial Group upped their price target on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. DA Davidson raised their price objective on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada boosted their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two 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 data from MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

CarGurus Stock Down 0.0 %

Shares of CarGurus stock opened at $36.08 on Friday. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10. The firm has a market capitalization of $3.74 billion, a PE ratio of -78.43, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. The stock’s fifty day moving average is $34.72 and its 200-day moving average is $29.58.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the transaction, the chief marketing officer now owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the transaction, the chief operating officer now owns 449,821 shares in the company, valued at approximately $14,223,340.02. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,458 shares of company stock worth $2,550,785. Company insiders own 17.20% of the company’s stock.

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.