Los Angeles Capital Management LLC Has $1.93 Million Stake in CarGurus, Inc. (NASDAQ:CARG)

Los Angeles Capital Management LLC grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 51.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,417 shares of the company’s stock after purchasing an additional 22,004 shares during the period. Los Angeles Capital Management LLC’s holdings in CarGurus were worth $1,934,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Marshall Wace LLP grew its position in CarGurus by 3,512.4% during the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after buying an additional 467,042 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of CarGurus by 629.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after purchasing an additional 321,318 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after purchasing an additional 228,380 shares during the period. SG Capital Management LLC acquired a new position in CarGurus in the first quarter valued at about $4,222,000. Finally, Edgestream Partners L.P. bought a new stake in CarGurus during the first quarter worth about $3,978,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CARG shares. B. Riley raised their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective 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. BTIG Research upped their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Royal Bank of Canada boosted their price target on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday. Two research 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 company’s stock. Based on data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and a consensus target price of $37.41.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at approximately $3,664,815.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus 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 transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at $14,223,340.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock worth $1,823,794 in the last quarter. 17.20% of the stock is owned by insiders.

CarGurus Trading Down 2.5 %

Shares of CARG stock opened at $36.57 on Thursday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -79.50, a PEG ratio of 2.09 and a beta of 1.55. The business’s 50-day moving average price is $30.76 and its 200-day moving average price is $27.20. CarGurus, Inc. has a 12 month low of $18.90 and a 12 month high of $37.94.

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.