Amalgamated Bank Increases Stake in CarGurus, Inc. (NASDAQ:CARG)

Amalgamated Bank increased its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 6.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,748 shares of the company’s stock after buying an additional 1,465 shares during the period. Amalgamated Bank’s holdings in CarGurus were worth $773,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its stake in CarGurus by 4.7% in the first quarter. Swiss National Bank now owns 171,000 shares of the company’s stock valued at $3,947,000 after purchasing an additional 7,700 shares during the last quarter. Headlands Technologies LLC purchased a new position in CarGurus in the first quarter valued at about $49,000. ProShare Advisors LLC grew its stake in CarGurus by 5.6% in the first quarter. ProShare Advisors LLC now owns 19,116 shares of the company’s stock valued at $441,000 after purchasing an additional 1,018 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in CarGurus by 23.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,778 shares of the company’s stock valued at $595,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after purchasing an additional 107,244 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. JMP Securities lifted their target price on CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research note on Monday, November 11th. Needham & Company LLC lifted their target price on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BTIG Research boosted their price target on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Oppenheimer boosted 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. 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.41.

CarGurus Stock Down 0.7 %

Shares of CarGurus stock opened at $35.64 on Friday. The business’s fifty day simple moving average is $31.09 and its 200-day simple moving average is $27.35. CarGurus, Inc. has a 52 week low of $18.90 and a 52 week high of $37.94. The firm has a market cap of $3.68 billion, a PE ratio of -77.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.55.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value 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. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,897 shares of company stock valued at $1,110,533. Corporate insiders own 17.20% of the company’s stock.

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.