B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 35,699 CarGurus, Inc. (NASDAQ:CARG)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 35,699 shares of the company's stock, valued at approximately $1,072,000.

Several other large investors have also modified their holdings of CARG. Vanguard Group Inc. raised its position in CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company's stock valued at $235,382,000 after purchasing an additional 107,244 shares during the period. Thrivent Financial for Lutherans grew its position in CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company's stock valued at $38,282,000 after acquiring an additional 89,346 shares in the last quarter. Select Equity Group L.P. increased its stake in CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company's stock worth $30,017,000 after purchasing an additional 31,431 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CarGurus by 26.5% during 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 in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of CarGurus by 2.2% in the second quarter. Raymond James & Associates now owns 534,939 shares of the company's stock valued at $14,015,000 after purchasing an additional 11,584 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CARG shares. Royal Bank of Canada increased their target price on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their price target on CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Citigroup upgraded shares of CarGurus from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. B. Riley raised their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Finally, 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 report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus presently has an average rating of "Moderate Buy" and a consensus price target of $37.86.

Insider Activity at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the transaction, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. This represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 25,168 shares of the business's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,065 shares of company stock worth $2,356,336 in the last three months. Insiders own 17.20% of the company's stock.

CarGurus Price Performance

Shares of CARG stock traded down $0.11 during midday trading on Friday, hitting $35.62. The company had a trading volume of 674,881 shares, compared to its average volume of 687,224. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -77.43, a PEG ratio of 1.88 and a beta of 1.55. The company's 50 day simple moving average is $31.86 and its 200 day simple moving average is $27.83. CarGurus, Inc. has a 52-week low of $21.02 and a 52-week 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.