Alpha DNA Investment Management LLC Makes New $503,000 Investment in CarGurus, Inc. (NASDAQ:CARG)

Alpha DNA Investment Management LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,736 shares of the company's stock, valued at approximately $503,000.

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

Analyst Upgrades and Downgrades

CARG has been the subject of several research analyst reports. Citigroup raised CarGurus from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. JMP Securities upped their price target on CarGurus from $41.00 to $46.00 and gave the stock a "market outperform" rating in a report on Friday. Oppenheimer boosted their price target on CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Needham & Company LLC increased their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, DA Davidson raised their price objective on CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a research report on Friday, November 8th. 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 stock. According to MarketBeat.com, CarGurus presently has a consensus rating of "Moderate Buy" and an average price target of $37.86.

CarGurus Price Performance

Shares of CARG stock traded down $0.11 during trading hours on Friday, reaching $35.62. The company had a trading volume of 674,881 shares, compared to its average volume of 687,224. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of -77.43, a P/E/G ratio of 1.88 and a beta of 1.55. The company has a 50 day moving average of $31.86 and a 200 day moving average of $27.83. CarGurus, Inc. has a 1-year low of $21.02 and a 1-year high of $37.94.

Insider Activity at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the transaction, the chief executive officer now owns 779,606 shares in the company, valued at $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the business's 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 sale, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,065 shares of company stock valued at $2,356,336. 17.20% of the stock is owned by insiders.

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.