Friedenthal Financial Makes New $767,000 Investment in CarGurus, Inc. (NASDAQ:CARG)

Friedenthal Financial bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 20,984 shares of the company's stock, valued at approximately $767,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Loomis Sayles & Co. L P bought a new stake in shares of CarGurus during the 3rd quarter valued at approximately $21,052,000. Marshall Wace LLP boosted its position in CarGurus by 3,512.4% in the second quarter. Marshall Wace LLP now owns 480,339 shares of the company's stock valued at $12,585,000 after buying an additional 467,042 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of CarGurus by 629.3% during the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company's stock worth $11,183,000 after buying an additional 321,318 shares during the last quarter. State Street Corp increased its holdings in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after buying an additional 151,862 shares in the last quarter. Finally, Barclays PLC lifted its stake in shares of CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after acquiring an additional 121,341 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

CARG has been the topic of a number of research reports. Needham & Company LLC boosted their price objective on CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. B. Riley raised their price objective on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, JMP Securities restated a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $37.86.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 7,500 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 10,570 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the sale, the chief marketing officer now directly owns 95,261 shares of the company's stock, valued at $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,521 shares of company stock valued at $3,394,774. 17.20% of the stock is currently owned by insiders.

CarGurus Price Performance

Shares of CARG traded up $0.40 during trading hours on Monday, hitting $35.96. 749,113 shares of the stock were exchanged, compared to its average volume of 627,959. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10. The business has a 50-day moving average of $36.44 and a 200-day moving average of $30.94. The firm has a market capitalization of $3.73 billion, a P/E ratio of -78.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58.

About CarGurus

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.