CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 2.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 403,833 shares of the company’s stock after purchasing an additional 9,744 shares during the quarter. JPMorgan Chase & Co. owned about 0.39% of CarGurus worth $12,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CARG. Loomis Sayles & Co. L P acquired a new position in shares of CarGurus in the third quarter valued at approximately $21,052,000. Marshall Wace LLP grew its stake in CarGurus by 3,512.4% in the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after acquiring an additional 467,042 shares during the period. Assenagon Asset Management S.A. raised its holdings in CarGurus by 629.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after acquiring an additional 321,318 shares during the last quarter. Allen Investment Management LLC lifted its stake in shares of CarGurus by 187.2% during the 2nd quarter. Allen Investment Management LLC now owns 257,827 shares of the company’s stock worth $6,755,000 after purchasing an additional 168,051 shares during the period. Finally, State Street Corp boosted its holdings in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Trading Down 4.2 %

NASDAQ:CARG opened at $35.56 on Friday. The firm’s fifty day simple moving average is $36.44 and its 200 day simple moving average is $30.87. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -77.30, a PEG ratio of 2.00 and a beta of 1.58.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at $14,223,340.02. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the transaction, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,521 shares of company stock valued at $3,394,774 over the last three months. 17.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CARG has been the subject of several analyst reports. Jefferies Financial Group upped 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. B. Riley upped their price objective 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. BTIG Research raised their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Oppenheimer lifted their price target on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.