CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 44.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 208,428 shares of the company's stock after selling 163,951 shares during the quarter. Assenagon Asset Management S.A. owned about 0.20% of CarGurus worth $7,616,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CARG. GAMMA Investing LLC grew its stake in shares of CarGurus by 19.0% in the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company's stock worth $74,000 after acquiring an additional 393 shares in the last quarter. Signaturefd LLC raised its position in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after purchasing an additional 430 shares in the last quarter. Point72 DIFC Ltd boosted its stake in shares of CarGurus by 15.2% in the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company's stock valued at $115,000 after buying an additional 504 shares during the period. Central Pacific Bank Trust Division increased its stake in shares of CarGurus by 5.3% during the third quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company's stock worth $313,000 after buying an additional 520 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in CarGurus by 5.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company's stock valued at $365,000 after acquiring an additional 584 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Needham & Company LLC boosted their price target on shares of CarGurus from $39.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank of Canada boosted their target price on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. Jefferies Financial Group raised their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. B. Riley upped 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, November 11th. Finally, DA Davidson lifted their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $38.41.

Insider Buying and Selling

In other news, COO Samuel Zales sold 25,168 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.43, for a total transaction of $891,702.24. Following the transaction, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares of the company's stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,353 shares of company stock valued at $2,598,961 over the last quarter. 17.20% of the stock is currently owned by insiders.

CarGurus Stock Performance

CarGurus stock traded up $0.14 during midday trading on Monday, hitting $37.79. 982,340 shares of the company's stock were exchanged, compared to its average volume of 526,838. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -82.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10. The firm's 50 day simple moving average is $36.85 and its 200 day simple moving average is $31.35.

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.