Barclays PLC Boosts Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Barclays PLC increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 252.2% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 169,461 shares of the company's stock after purchasing an additional 121,341 shares during the period. Barclays PLC owned approximately 0.16% of CarGurus worth $5,089,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CARG. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus during the third quarter worth $28,000. Signaturefd LLC boosted its holdings in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus in the 3rd quarter valued at about $30,000. Nisa Investment Advisors LLC increased its stake in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after purchasing an additional 479 shares during the period. Finally, Quarry LP lifted its position in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company's stock worth $45,000 after purchasing an additional 913 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Stock Down 0.1 %

CARG traded down $0.05 on Friday, reaching $36.03. The company's stock had a trading volume of 1,750,333 shares, compared to its average volume of 814,025. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of -78.32, a P/E/G ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10. The stock has a 50 day moving average of $34.94 and a two-hundred day moving average of $29.75.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CARG. DA Davidson lifted 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. BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Needham & Company LLC boosted their target price on CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Finally, Jefferies Financial Group increased their price target on CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.86.

Insider Transactions at CarGurus

In other news, CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the sale, the chief marketing officer now directly owns 119,330 shares of the company's stock, valued at approximately $3,572,740.20. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the transaction, the chief technology officer now directly owns 205,696 shares in the company, valued at $6,053,633.28. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,458 shares of company stock worth $2,550,785. 17.20% of the stock is currently 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.