Assenagon Asset Management S.A. Purchases 321,318 Shares of CarGurus, Inc. (NASDAQ:CARG)

Assenagon Asset Management S.A. increased its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 629.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 372,379 shares of the company's stock after acquiring an additional 321,318 shares during the quarter. Assenagon Asset Management S.A. owned about 0.36% of CarGurus worth $11,183,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company's stock worth $235,382,000 after purchasing an additional 107,244 shares during the period. Thrivent Financial for Lutherans raised its holdings in CarGurus by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company's stock valued at $38,282,000 after acquiring an additional 89,346 shares during the period. Select Equity Group L.P. lifted its position in shares of CarGurus by 2.8% in the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company's stock valued at $30,017,000 after acquiring an additional 31,431 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in shares of CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company's stock valued at $28,567,000 after acquiring an additional 228,380 shares in the last quarter. Finally, Raymond James & Associates boosted its stake in shares of CarGurus by 2.2% in the second quarter. Raymond James & Associates now owns 534,939 shares of the company's stock worth $14,015,000 after acquiring an additional 11,584 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 25,168 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,065 shares of company stock valued at $1,823,794. Company insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

CARG has been the topic of a number of research analyst reports. DA Davidson reissued a "neutral" rating and issued a $26.50 price target on shares of CarGurus in a report on Tuesday, September 10th. Royal Bank of Canada boosted their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Citigroup boosted their price target on shares of CarGurus from $24.00 to $27.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 3rd. Finally, B. Riley raised their price objective on CarGurus from $28.00 to $30.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, CarGurus presently has an average rating of "Moderate Buy" and a consensus target price of $30.59.

CarGurus Stock Up 0.2 %

CARG traded up $0.06 on Monday, hitting $31.59. The company had a trading volume of 503,376 shares, compared to its average volume of 833,509. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $32.36. The business's fifty day simple moving average is $29.54 and its 200 day simple moving average is $26.25. The company has a market cap of $3.29 billion, a PE ratio of 113.14, a PEG ratio of 1.48 and a beta of 1.56.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. On average, analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

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.