CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lowered its position in CarGurus, Inc. (NASDAQ:CARG) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,444 shares of the company’s stock after selling 2,796 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.11% of CarGurus worth $3,467,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in CarGurus by 19.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after buying an additional 393 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in CarGurus by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after buying an additional 420 shares in the last quarter. Signaturefd LLC lifted 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 buying an additional 430 shares in the last quarter. Raymond James Trust N.A. lifted its holdings in CarGurus by 1.9% in the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after buying an additional 450 shares in the last quarter. Finally, 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 buying an additional 479 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the transaction, the chief operating officer now owns 449,821 shares in the company, valued at approximately $14,223,340.02. This 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 company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,065 shares of company stock valued at $2,356,336 in the last quarter. Insiders own 17.20% of the company’s stock.

CarGurus Stock Up 1.8 %

Shares of NASDAQ:CARG opened at $36.46 on Wednesday. CarGurus, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $37.94. The firm has a 50-day simple moving average of $32.00 and a 200 day simple moving average of $27.96. The company has a market cap of $3.78 billion, a PE ratio of -79.26, a P/E/G ratio of 1.88 and a beta of 1.55.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. BTIG Research boosted their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC upped their target price on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities upped their target price on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. Jefferies Financial Group upped their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.