2,120 Shares in CarGurus, Inc. (NASDAQ:CARG) Acquired by R Squared Ltd

R Squared Ltd purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, HoldingsChannel reports. The firm purchased 2,120 shares of the company’s stock, valued at approximately $77,000.

A number of other institutional investors have also added to or reduced their stakes in CARG. Sei Investments Co. raised its stake in CarGurus by 57.2% during the 2nd quarter. Sei Investments Co. now owns 99,183 shares of the company’s stock worth $2,599,000 after buying an additional 36,080 shares during the period. Algert Global LLC bought a new stake in CarGurus during the 2nd quarter worth approximately $223,000. Central Pacific Bank Trust Division increased its holdings in CarGurus by 5.3% during the 3rd quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock worth $313,000 after purchasing an additional 520 shares in the last quarter. SG Americas Securities LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $211,000. Finally, GAMMA Investing LLC increased its holdings in CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Oppenheimer boosted their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Jefferies Financial Group upped 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. Finally, DA Davidson upped their target price on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $38.41.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the stock in a transaction on 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 transaction, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,556 shares of company stock valued at $2,682,940. Company insiders own 17.20% of the company’s stock.

CarGurus Trading Down 3.3 %

Shares of NASDAQ CARG opened at $39.20 on Friday. The stock has a fifty day simple moving average of $37.51 and a two-hundred day simple moving average of $32.24. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of -85.22, a price-to-earnings-growth ratio of 1.79 and a beta of 1.58.

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.