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

Barclays PLC increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 252.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 169,461 shares of the company's stock after acquiring an additional 121,341 shares during the period. Barclays PLC owned about 0.16% of CarGurus worth $5,089,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CARG. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the third quarter worth about $28,000. Signaturefd LLC raised its holdings in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter worth $30,000. Nisa Investment Advisors LLC boosted its holdings 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 last quarter. Finally, Quarry LP grew its position in CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company's stock valued at $45,000 after purchasing an additional 913 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Price Performance

NASDAQ CARG traded down $0.05 during mid-day trading on Friday, reaching $36.03. 1,750,333 shares of the stock were exchanged, compared to its average volume of 814,025. The stock has a market cap of $3.74 billion, a P/E ratio of -78.32, a P/E/G ratio of 2.00 and a beta of 1.57. The stock has a 50 day simple moving average of $34.94 and a 200-day simple moving average of $29.71. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CARG shares. Needham & Company LLC increased their price target on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a research report on Friday, November 8th. B. Riley raised their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Citigroup raised shares of CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, Jefferies Financial Group upped their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $37.86.

Insiders Place Their Bets

In related news, CTO Matthew Todd Quinn sold 3,495 shares of the firm's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the transaction, the chief technology officer now owns 205,696 shares of the company's stock, valued at approximately $6,053,633.28. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 7,500 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $16,392,751.70. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,458 shares of company stock worth $2,550,785. Corporate insiders own 17.20% of the company's stock.

About CarGurus

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.