CarGurus, Inc. (NASDAQ:CARG) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 20.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 96,819 shares of the company's stock after selling 24,170 shares during the period. M&T Bank Corp owned approximately 0.09% of CarGurus worth $2,907,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CARG. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the third quarter worth $28,000. Signaturefd LLC increased its stake in 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 period. Kathleen S. Wright Associates Inc. bought a new stake in CarGurus during the 3rd quarter valued at about $30,000. CWM LLC boosted its holdings in shares of 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 period. Finally, Quarry LP increased its stake in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company's stock valued at $45,000 after buying an additional 913 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CARG shares. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 8th. B. Riley lifted their target price on CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Oppenheimer increased their price target on shares of CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, BTIG Research raised their target price on shares of CarGurus from $30.00 to $35.00 and gave the company a "buy" rating in a research note on Tuesday, October 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 a consensus rating of "Moderate Buy" and a consensus price target of $37.86.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the stock in a transaction 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 owns 449,821 shares in the company, valued at $14,223,340.02. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of the business'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 transaction, the chief executive officer now owns 779,606 shares of the company's stock, valued at $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,958 shares of company stock worth $2,268,035. 17.20% of the stock is currently owned by insiders.

CarGurus Trading Down 0.2 %

Shares of NASDAQ:CARG traded down $0.09 on Friday, hitting $37.67. 388,168 shares of the company were exchanged, compared to its average volume of 812,396. The firm has a market capitalization of $3.91 billion, a P/E ratio of -81.89, a price-to-earnings-growth ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The stock's 50 day moving average price is $34.28 and its 200 day moving average price is $29.30.

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.