Algert Global LLC Grows Position in CarGurus, Inc. (NASDAQ:CARG)

Algert Global LLC lifted its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 914.0% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,430 shares of the company's stock after buying an additional 77,906 shares during the period. Algert Global LLC owned approximately 0.08% of CarGurus worth $2,595,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC boosted its stake in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after buying an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus in the third quarter valued at approximately $30,000. CWM LLC lifted its stake in CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company's stock valued at $36,000 after purchasing an additional 485 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock valued at $41,000 after purchasing an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company's stock valued at $54,000 after purchasing an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the sale, the chief operating officer now directly owns 442,321 shares in the company, valued at approximately $15,671,433.03. The trade was a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jason Trevisan sold 10,000 shares of the business's stock in a transaction dated Monday, November 18th. The stock was 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 approximately $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,065 shares of company stock worth $2,356,336. 17.20% of the stock is owned by corporate insiders.

CarGurus Trading Up 1.4 %

CARG stock traded up $0.52 on Wednesday, hitting $36.98. The company had a trading volume of 105,230 shares, compared to its average volume of 820,403. The stock's 50-day simple moving average is $32.13 and its 200 day simple moving average is $28.05. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -79.26, a P/E/G ratio of 1.89 and a beta of 1.55. CarGurus, Inc. has a 12-month low of $21.02 and a 12-month high of $37.94.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Oppenheimer upped their price objective on CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Needham & Company LLC boosted 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. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 8th. DA Davidson boosted their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a report on Friday, November 8th. Finally, JMP Securities boosted their target price on shares of CarGurus from $41.00 to $46.00 and gave the company a "market outperform" rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.86.

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.