CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,055,145 shares of the company's stock after purchasing an additional 74,730 shares during the quarter. Geode Capital Management LLC owned 1.99% of CarGurus worth $61,728,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Loomis Sayles & Co. L P purchased a new stake in CarGurus in the 3rd quarter valued at about $21,052,000. Marshall Wace LLP lifted its holdings 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 acquiring an additional 467,042 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of CarGurus by 629.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company's stock worth $11,183,000 after purchasing an additional 321,318 shares during the period. Fort Washington Investment Advisors Inc. OH increased its holdings in CarGurus by 26.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company's stock valued at $28,567,000 after purchasing an additional 228,380 shares during the last quarter. Finally, Allen Investment Management LLC raised its position in CarGurus by 187.2% in the second quarter. Allen Investment Management LLC now owns 257,827 shares of the company's stock valued at $6,755,000 after purchasing an additional 168,051 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In other CarGurus news, 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 value of $102,857.85. Following the transaction, the chief technology officer now directly owns 205,696 shares in the company, valued at approximately $6,053,633.28. The trade was a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total transaction of $123,562.38. Following the sale, the chief marketing officer now owns 119,330 shares of the company's stock, valued at $3,572,740.20. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 75,458 shares of company stock worth $2,550,785 in the last ninety days. 17.20% of the stock is owned by corporate insiders.

CarGurus Price Performance

Shares of NASDAQ CARG traded down $0.05 during midday trading on Friday, hitting $36.03. 1,750,333 shares of the company's stock were exchanged, compared to its average volume of 814,025. The firm's fifty day simple moving average is $34.94 and its 200-day simple moving average is $29.79. The company has a market cap of $3.74 billion, a PE ratio of -78.32, a P/E/G ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CARG shares. B. Riley lifted their price objective on CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Needham & Company LLC raised their target price on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a report on Friday, November 8th. Oppenheimer boosted their price target on shares of CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. BTIG Research raised 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.86.

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.