GAMMA Investing LLC Increases Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

GAMMA Investing LLC lifted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 26.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,099 shares of the company’s stock after purchasing an additional 640 shares during the quarter. GAMMA Investing LLC’s holdings in CarGurus were worth $113,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the third quarter valued at approximately $28,000. Signaturefd LLC boosted its position in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CarGurus during the third quarter worth $30,000. Quarry LP boosted its position in CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 913 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of CarGurus in the second quarter worth $87,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARG has been the subject of several analyst reports. Jefferies Financial Group upped their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC upped their target price on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. DA Davidson upped their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Oppenheimer increased their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Two research 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 presently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

Insider Buying and Selling at CarGurus

In other news, 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 owns 449,821 shares of the company’s stock, valued at $14,223,340.02. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,521 shares of company stock valued at $3,394,774. 17.20% of the stock is owned by corporate insiders.

CarGurus Price Performance

CARG opened at $35.56 on Friday. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.10. The stock has a market cap of $3.69 billion, a P/E ratio of -77.30, a P/E/G ratio of 2.00 and a beta of 1.58. The stock’s 50 day moving average price is $36.35 and its 200 day moving average price is $30.79.

CarGurus Company 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.