Algert Global LLC Has $2.60 Million Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Algert Global LLC lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 914.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,430 shares of the company’s stock after purchasing an additional 77,906 shares during the quarter. Algert Global LLC’s holdings in CarGurus were worth $2,595,000 as of its most recent SEC filing.

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

CarGurus Price Performance

Shares of CARG stock opened at $36.46 on Wednesday. CarGurus, Inc. has a one year low of $21.02 and a one year high of $37.94. The stock has a fifty day moving average price of $32.00 and a 200 day moving average price of $27.96. The stock has a market cap of $3.78 billion, a P/E ratio of -79.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CARG shares. DA Davidson lifted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. JMP Securities boosted their target price on shares of CarGurus from $41.00 to $46.00 and gave the stock a “market outperform” rating in a research report on Friday, November 22nd. Royal Bank of Canada raised their price target on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, BTIG Research raised their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two investment 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. According to data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $37.86.

Insider Transactions 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 in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 3,495 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares in the company, valued at $6,053,633.28. This represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,065 shares of company stock valued at $2,356,336. Company 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.