69,132 Shares in CarGurus, Inc. (NASDAQ:CARG) Purchased by NFJ Investment Group LLC

NFJ Investment Group LLC acquired a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 69,132 shares of the company's stock, valued at approximately $2,076,000. NFJ Investment Group LLC owned 0.07% of CarGurus as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in CarGurus during the third quarter valued at about $28,000. Signaturefd LLC lifted its position in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus during the 3rd quarter valued at approximately $30,000. CWM LLC increased its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company's stock worth $36,000 after acquiring an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after acquiring an additional 479 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

CARG has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price target on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. B. Riley upped their price target on CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Oppenheimer lifted their price objective 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. Finally, Royal Bank of Canada upped their target price on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded down $0.40 on Thursday, reaching $38.38. The company's stock had a trading volume of 568,316 shares, compared to its average volume of 817,893. The company has a 50-day simple moving average of $33.26 and a 200 day simple moving average of $28.67. CarGurus, Inc. has a 52-week low of $21.12 and a 52-week high of $38.95. The company has a market cap of $3.98 billion, a P/E ratio of -83.43, a PEG ratio of 2.00 and a beta of 1.57.

Insider Activity at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares of the company's stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 4,127 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the transaction, the chief marketing officer now directly owns 119,330 shares in the company, valued at approximately $3,572,740.20. This represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,958 shares of company stock valued at $2,268,035. Insiders own 17.20% of the company's stock.

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.