Gagnon Securities LLC Has $15.16 Million Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Gagnon Securities LLC cut its position in CarGurus, Inc. (NASDAQ:CARG) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 414,998 shares of the company’s stock after selling 264 shares during the quarter. CarGurus comprises approximately 3.1% of Gagnon Securities LLC’s holdings, making the stock its 8th biggest position. Gagnon Securities LLC owned approximately 0.40% of CarGurus worth $15,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CARG. Loomis Sayles & Co. L P bought a new position in shares of CarGurus in the third quarter valued at $21,052,000. Assenagon Asset Management S.A. grew its stake in shares of CarGurus by 629.3% in the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after buying an additional 321,318 shares in the last quarter. State Street Corp boosted its position in CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares during the period. Barclays PLC boosted its position in CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares during the period. Finally, Moody Aldrich Partners LLC bought a new position in CarGurus during the fourth quarter worth $3,852,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Down 3.3 %

CARG stock opened at $39.20 on Friday. The company has a market cap of $4.07 billion, a PE ratio of -85.22, a price-to-earnings-growth ratio of 1.79 and a beta of 1.58. The business has a 50-day simple moving average of $37.51 and a 200 day simple moving average of $32.24. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

Analyst Ratings Changes

A number of equities analysts have commented on CARG shares. Needham & Company LLC lifted their price objective on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price objective 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. Oppenheimer boosted their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Two equities 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’s stock. According to data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 7,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00. Following the completion of the transaction, the chief operating officer now owns 434,821 shares of the company’s stock, valued at approximately $16,392,751.70. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,556 shares of company stock valued at $2,682,940 over the last quarter. 17.20% of the stock is owned by corporate insiders.

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.