SG Americas Securities LLC Grows Stake in CarGurus, Inc. (NASDAQ:CARG)

SG Americas Securities LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 146.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 17,303 shares of the company's stock after purchasing an additional 10,278 shares during the quarter. SG Americas Securities LLC's holdings in CarGurus were worth $632,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dakota Wealth Management purchased a new stake in shares of CarGurus in the fourth quarter worth about $902,000. Crossmark Global Holdings Inc. purchased a new stake in CarGurus in the 4th quarter worth approximately $220,000. Hennion & Walsh Asset Management Inc. boosted its holdings in CarGurus by 14.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 13,938 shares of the company's stock valued at $509,000 after purchasing an additional 1,781 shares during the period. USA Financial Formulas bought a new position in CarGurus in the 4th quarter valued at $35,000. Finally, Friedenthal Financial purchased a new position in shares of CarGurus during the 4th quarter valued at $767,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CARG has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on CarGurus from $39.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, January 16th. Jefferies Financial Group lifted their price target on CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Citigroup upgraded shares of CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. raised their price target on CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Two equities research 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 presently has an average rating of "Moderate Buy" and a consensus target price of $38.41.

CarGurus Stock Performance

Shares of NASDAQ CARG traded down $0.77 during mid-day trading on Monday, hitting $38.43. The stock had a trading volume of 557,605 shares, compared to its average volume of 771,689. The business has a 50 day moving average price of $37.51 and a two-hundred day moving average price of $32.33. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The firm has a market cap of $3.99 billion, a P/E ratio of -83.63, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59.

Insider Activity at CarGurus

In other news, 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 sale, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now owns 115,983 shares of the company's stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 74,556 shares of company stock worth $2,682,940 in the last 90 days. Company insiders own 17.20% of the company's stock.

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.