Vinva Investment Management Ltd Takes $599,000 Position in CarGurus, Inc. (NASDAQ:CARG)

Vinva Investment Management Ltd purchased a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 19,948 shares of the company's stock, valued at approximately $599,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Signaturefd LLC lifted its holdings in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CarGurus in the 3rd quarter worth approximately $30,000. CWM LLC raised its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company's stock valued at $36,000 after acquiring an additional 485 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after purchasing an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC boosted 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 worth $54,000 after acquiring an additional 425 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 0.5 %

Shares of CARG traded up $0.18 during trading hours on Friday, reaching $37.82. 467,289 shares of the stock traded hands, compared to its average volume of 728,826. The stock has a fifty day simple moving average of $32.58 and a 200 day simple moving average of $28.31. CarGurus, Inc. has a 52 week low of $21.02 and a 52 week high of $38.15.

Insider Buying and Selling at CarGurus

In related news, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now owns 205,696 shares of the company's stock, valued at $6,053,633.28. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Dafna Sarnoff sold 3,107 shares of the company's stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares of the company's stock, valued at $3,664,815.84. This represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,065 shares of company stock worth $2,356,336. Insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of recent analyst reports. BTIG Research boosted their target price on shares of CarGurus from $30.00 to $35.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. B. Riley raised 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. Oppenheimer upped 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. Finally, JPMorgan Chase & Co. increased their price target on CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a report 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 MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

CarGurus 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.