UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Position in CarGurus, Inc. (NASDAQ:CARG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 14.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,498 shares of the company's stock after selling 25,106 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.15% of CarGurus worth $4,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Public Sector Pension Investment Board lifted its position in CarGurus by 7.4% in the third quarter. Public Sector Pension Investment Board now owns 185,367 shares of the company's stock valued at $5,567,000 after buying an additional 12,700 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of CarGurus in the 3rd quarter worth approximately $276,000. Bridgewater Associates LP boosted its position in shares of CarGurus by 24.1% during the 3rd quarter. Bridgewater Associates LP now owns 68,000 shares of the company's stock worth $2,042,000 after purchasing an additional 13,195 shares during the period. BNP Paribas Financial Markets increased its holdings in CarGurus by 69.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 76,485 shares of the company's stock valued at $2,297,000 after purchasing an additional 31,451 shares during the last quarter. Finally, FMR LLC raised its position in CarGurus by 91.1% in the third quarter. FMR LLC now owns 13,840 shares of the company's stock valued at $416,000 after purchasing an additional 6,599 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Trading Down 0.8 %

NASDAQ:CARG traded down $0.29 during mid-day trading on Thursday, hitting $37.76. The stock had a trading volume of 425,570 shares, compared to its average volume of 814,164. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The stock has a 50-day simple moving average of $33.94 and a two-hundred day simple moving average of $29.10. The company has a market capitalization of $3.92 billion, a PE ratio of -82.28, a PEG ratio of 2.02 and a beta of 1.57.

Insider Buying and Selling at CarGurus

In related news, CTO Matthew Todd Quinn sold 3,495 shares of the company'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 transaction, the chief technology officer now directly owns 205,696 shares of the company's stock, valued at $6,053,633.28. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last three months, insiders have sold 67,958 shares of company stock valued at $2,268,035. Insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARG. Royal Bank of Canada raised their price target on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. DA Davidson raised their target price on CarGurus from $26.50 to $38.50 and gave the company a "neutral" rating in a report on Friday, November 8th. Oppenheimer lifted their target price on CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Finally, JMP Securities lifted their price objective on shares of CarGurus from $41.00 to $46.00 and gave the company a "market outperform" rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, CarGurus currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

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.