Hennion & Walsh Asset Management Inc. Acquires 1,781 Shares of CarGurus, Inc. (NASDAQ:CARG)

Hennion & Walsh Asset Management Inc. lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 14.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 13,938 shares of the company’s stock after purchasing an additional 1,781 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in CarGurus were worth $509,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp grew 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 valued at $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Alpha DNA Investment Management LLC bought a new position in shares of CarGurus during the 3rd quarter valued at $503,000. Los Angeles Capital Management LLC grew its holdings in shares of CarGurus by 51.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after purchasing an additional 22,004 shares during the last quarter. Finally, Friedenthal Financial bought a new stake in CarGurus in the 4th quarter worth $767,000. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the transaction, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at $3,408,438.58. This trade represents a 9.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24. Following the transaction, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at approximately $15,671,433.03. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,353 shares of company stock valued at $2,598,961. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CARG. JPMorgan Chase & Co. raised their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC raised their price target on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Trading Up 0.4 %

Shares of CARG opened at $37.79 on Tuesday. The firm’s 50-day moving average price is $36.87 and its 200-day moving average price is $31.44. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -82.15, a PEG ratio of 1.61 and a beta of 1.58. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10.

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.