BNP Paribas Financial Markets Raises Stock Position in CarGurus, Inc. (NASDAQ:CARG)

BNP Paribas Financial Markets lifted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 69.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 76,485 shares of the company's stock after buying an additional 31,451 shares during the period. BNP Paribas Financial Markets owned approximately 0.07% of CarGurus worth $2,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC increased its position in shares of CarGurus by 91.1% during the third quarter. FMR LLC now owns 13,840 shares of the company's stock worth $416,000 after purchasing an additional 6,599 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in CarGurus during the 3rd quarter worth $21,052,000. Dynamic Technology Lab Private Ltd acquired a new position in CarGurus during the 3rd quarter valued at about $735,000. Alpha DNA Investment Management LLC purchased a new stake in CarGurus in the third quarter valued at about $503,000. Finally, Algert Global LLC boosted its holdings in CarGurus by 914.0% in the third quarter. Algert Global LLC now owns 86,430 shares of the company's stock worth $2,595,000 after acquiring an additional 77,906 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Transactions at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the sale, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at approximately $14,223,340.02. This represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jason Trevisan sold 10,000 shares of the firm's stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,958 shares of company stock valued at $2,268,035. 17.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CARG has been the topic of several recent analyst reports. DA Davidson upped their price objective on shares of CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a report on Friday, November 8th. Needham & Company LLC raised their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Jefferies Financial Group upped their target price on CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Finally, BTIG Research lifted their price target on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.86.

CarGurus Trading Down 0.1 %

CarGurus stock traded down $0.02 during mid-day trading on Friday, hitting $38.36. The company had a trading volume of 725,222 shares, compared to its average volume of 723,698. CarGurus, Inc. has a 12-month low of $21.12 and a 12-month high of $39.10. The company's fifty day moving average is $33.44 and its 200-day moving average is $28.77.

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.