CarGurus, Inc. (NASDAQ:CARG) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 12.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,235 shares of the company’s stock after selling 10,110 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of CarGurus worth $2,079,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CARG. Atria Investments Inc purchased a new position in shares of CarGurus in the 3rd quarter worth about $247,000. Principal Financial Group Inc. raised its holdings in CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock valued at $13,514,000 after buying an additional 6,186 shares during the period. Amalgamated Bank lifted its position in CarGurus by 6.0% during the third quarter. Amalgamated Bank now owns 25,748 shares of the company’s stock valued at $773,000 after buying an additional 1,465 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of CarGurus in the third quarter worth $217,000. Finally, New York State Teachers Retirement System raised its stake in shares of CarGurus by 2.3% in the 3rd quarter. New York State Teachers Retirement System now owns 36,295 shares of the company’s stock valued at $1,090,000 after acquiring an additional 822 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent research reports. JMP Securities increased their price target on CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a report on Monday, November 11th. Needham & Company LLC boosted their price target on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. BTIG Research increased their price objective on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, B. Riley raised their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.41.

CarGurus Trading Down 0.7 %

Shares of NASDAQ CARG opened at $35.64 on Friday. The business has a 50 day simple moving average of $31.09 and a 200-day simple moving average of $27.35. CarGurus, Inc. has a twelve month low of $18.90 and a twelve month high of $37.94. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of -77.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.55.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 4,127 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the transaction, the chief marketing officer now owns 119,330 shares in the company, valued at approximately $3,572,740.20. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,897 shares of company stock worth $1,110,533 over the last 90 days. 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.