Atria Investments Inc Purchases Shares of 8,226 CarGurus, Inc. (NASDAQ:CARG)

Atria Investments Inc acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 8,226 shares of the company’s stock, valued at approximately $247,000.

A number of other hedge funds have also made changes to their positions in the business. Signaturefd LLC lifted its stake in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in shares of CarGurus during the 3rd quarter worth approximately $30,000. CWM LLC lifted its position in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CarGurus by 25.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24. Following the completion of 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 represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,065 shares of company stock valued at $2,356,336 in the last ninety days. 17.20% of the stock is currently owned by company insiders.

CarGurus Price Performance

CarGurus stock opened at $35.62 on Friday. The stock’s 50 day moving average price is $31.86 and its 200 day moving average price is $27.79. The company has a market cap of $3.69 billion, a PE ratio of -77.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. CarGurus, Inc. has a 1-year low of $21.02 and a 1-year high of $37.94.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CARG shares. JMP Securities boosted their price target on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research report on Friday. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. 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. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, BTIG Research increased their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.86.

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.