State Street Corp Buys 151,862 Shares of CarGurus, Inc. (NASDAQ:CARG)

State Street Corp lifted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,298,894 shares of the company's stock after buying an additional 151,862 shares during the period. State Street Corp owned approximately 3.19% of CarGurus worth $99,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CARG. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter worth approximately $28,000. Signaturefd LLC grew its position in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in CarGurus during the 3rd quarter valued at approximately $30,000. CWM LLC lifted 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 purchasing an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after purchasing an additional 479 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insiders Place Their Bets

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the company's stock in a transaction on Monday, November 18th. The stock was 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 directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction on Wednesday, October 2nd. The stock was 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 $6,053,633.28. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,958 shares of company stock worth $2,268,035 over the last quarter. Company insiders own 17.20% of the company's stock.

Analysts Set New Price Targets

CARG has been the topic of several research analyst reports. B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Jefferies Financial Group boosted their price target on shares of CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. BTIG Research lifted their target price on CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Oppenheimer boosted their target price on CarGurus from $32.00 to $44.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. Finally, Citigroup raised CarGurus from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.86.

CarGurus Stock Performance

NASDAQ CARG traded up $1.01 during trading on Monday, hitting $38.68. The stock had a trading volume of 554,766 shares, compared to its average volume of 811,490. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10. The stock has a 50 day simple moving average of $34.47 and a 200 day simple moving average of $29.45. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of -84.09, a P/E/G ratio of 2.00 and a beta of 1.57.

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.