SG Americas Securities LLC Acquires 10,278 Shares of CarGurus, Inc. (NASDAQ:CARG)

SG Americas Securities LLC boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 146.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,303 shares of the company’s stock after purchasing an additional 10,278 shares during the period. SG Americas Securities LLC’s holdings in CarGurus were worth $632,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus in the third quarter worth $28,000. Signaturefd LLC grew its holdings in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CarGurus in the third quarter valued at about $30,000. USA Financial Formulas purchased a new position in shares of CarGurus in the fourth quarter valued at about $35,000. Finally, Quarry LP raised its stake in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the transaction, the chief operating officer now owns 442,321 shares in the company, valued at $15,671,433.03. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,556 shares of company stock valued at $2,682,940 in the last three months. Company insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their price objective on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. B. Riley upped their target price on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Oppenheimer raised their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group boosted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $38.41.

CarGurus Trading Up 0.1 %

Shares of CARG stock opened at $40.55 on Friday. The company’s fifty day moving average price is $37.44 and its 200-day moving average price is $32.15. The stock has a market cap of $4.21 billion, a PE ratio of -88.15, a price-to-earnings-growth ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

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.