State Street Corp Boosts Holdings in CarGurus, Inc. (NASDAQ:CARG)

State Street Corp grew its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 4.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,298,894 shares of the company’s stock after purchasing an additional 151,862 shares during the period. State Street Corp’s holdings in CarGurus were worth $99,066,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CARG. Thrivent Financial for Lutherans grew its position in CarGurus by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after buying an additional 89,346 shares in the last quarter. Prevatt Capital Ltd grew its holdings in shares of CarGurus by 7.0% during the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after purchasing an additional 80,000 shares in the last quarter. Select Equity Group L.P. increased its position in shares of CarGurus by 2.8% in the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock worth $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after purchasing an additional 228,380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the sale, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the transaction, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,958 shares of company stock worth $2,268,035. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CARG shares. Oppenheimer increased their price target on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price target on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. BTIG Research increased their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC raised their price objective on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, DA Davidson upped their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

CarGurus Price Performance

Shares of CARG stock opened at $37.67 on Monday. The business has a 50-day moving average of $34.28 and a 200 day moving average of $29.34. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The stock has a market capitalization of $3.91 billion, a PE ratio of -81.89, a P/E/G ratio of 2.00 and a beta of 1.57.

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.