Assenagon Asset Management S.A. Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

Assenagon Asset Management S.A. trimmed its position in CarGurus, Inc. (NASDAQ:CARG) by 44.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 208,428 shares of the company’s stock after selling 163,951 shares during the period. Assenagon Asset Management S.A. owned about 0.20% of CarGurus worth $7,616,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Loomis Sayles & Co. L P purchased a new stake in shares of CarGurus in the third quarter valued at about $21,052,000. Marshall Wace LLP grew its stake in shares of CarGurus by 3,512.4% in the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after buying an additional 467,042 shares during the period. State Street Corp increased its holdings in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Barclays PLC raised its position in shares of CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after buying an additional 121,341 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Up 0.4 %

CarGurus stock opened at $37.79 on Monday. The firm has a market capitalization of $3.92 billion, a P/E ratio of -82.15, a P/E/G ratio of 1.61 and a beta of 1.58. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The stock’s fifty day simple moving average is $36.85 and its 200-day simple moving average is $31.35.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the sale, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 72,353 shares of company stock worth $2,598,961. Company insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CARG shares. Oppenheimer raised their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC upped their price objective on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, 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.