24,675 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Dakota Wealth Management

Dakota Wealth Management bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 24,675 shares of the company's stock, valued at approximately $902,000.

A number of other hedge funds have also made changes to their positions in the stock. Sei Investments Co. increased its holdings in shares of CarGurus by 57.2% during the 2nd quarter. Sei Investments Co. now owns 99,183 shares of the company's stock worth $2,599,000 after purchasing an additional 36,080 shares during the period. Marshall Wace LLP boosted its position in shares of CarGurus by 3,512.4% in the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company's stock worth $12,585,000 after purchasing an additional 467,042 shares during the last quarter. Point72 DIFC Ltd acquired a new position in CarGurus during the second quarter valued at approximately $87,000. Caxton Associates LP bought a new stake in shares of CarGurus in the second quarter worth about $498,000. Finally, Maverick Capital Ltd. lifted its position in CarGurus by 202.3% in the 2nd quarter. Maverick Capital Ltd. now owns 62,491 shares of the company's stock valued at $1,637,000 after acquiring an additional 41,817 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Down 1.0 %

CARG stock traded down $0.40 during trading on Friday, reaching $38.93. The company's stock had a trading volume of 669,881 shares, compared to its average volume of 592,451. The company has a market capitalization of $4.04 billion, a P/E ratio of -84.63, a price-to-earnings-growth ratio of 1.70 and a beta of 1.58. The company's fifty day moving average is $37.07 and its 200-day moving average is $31.74. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $39.62.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CARG shares. Citigroup raised CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. BTIG Research increased their price objective 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. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research note on Monday, November 11th. DA Davidson increased their price target on CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a report on Friday, November 8th. Finally, Jefferies Financial Group upped their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a research note 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 issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and a consensus target price of $38.41.

Insider Buying and Selling

In related news, COO Samuel Zales sold 7,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the sale, the chief operating officer now directly owns 434,821 shares of the company's stock, valued at $16,392,751.70. This represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares of the company's stock, valued at $4,421,271.96. This represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,556 shares of company stock valued at $2,682,940. Corporate insiders own 17.20% of the company's stock.

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.