Thrivent Financial for Lutherans lessened its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 12.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,280,035 shares of the company's stock after selling 181,084 shares during the quarter. Thrivent Financial for Lutherans owned approximately 1.24% of CarGurus worth $38,439,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its holdings in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock worth $29,000 after buying an additional 430 shares during the period. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus in the 3rd quarter worth $30,000. CWM LLC raised its stake in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company's stock valued at $36,000 after buying an additional 485 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock valued at $41,000 after buying an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company's stock valued at $54,000 after acquiring an additional 425 shares during the period. 86.90% of the stock is owned by institutional investors.
Insider Buying and Selling at CarGurus
In related news, CTO Matthew Todd Quinn sold 3,495 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 205,696 shares in the company, valued at $6,053,633.28. The trade was a 1.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at $14,223,340.02. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,897 shares of company stock valued at $1,110,533 in the last quarter. Company insiders own 17.20% of the company's stock.
Analyst Ratings Changes
Several analysts recently issued reports on CARG shares. Jefferies Financial Group boosted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. DA Davidson increased their price objective on CarGurus from $26.50 to $38.50 and gave the stock a "neutral" rating in a research report on Friday, November 8th. JMP Securities upped their price target on shares of CarGurus from $32.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Monday, November 11th. BTIG Research upped their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC upped their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $37.41.
Check Out Our Latest Stock Report on CarGurus
CarGurus Price Performance
NASDAQ CARG traded up $0.06 during trading on Tuesday, reaching $35.46. 284,360 shares of the company's stock were exchanged, compared to its average volume of 823,680. CarGurus, Inc. has a fifty-two week low of $20.02 and a fifty-two week high of $37.94. The business has a 50 day moving average price of $31.09 and a 200-day moving average price of $27.42.
CarGurus Company Profile
(
Free Report)
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.
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