CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Point72 DIFC Ltd

Point72 DIFC Ltd increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 15.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,823 shares of the company’s stock after buying an additional 504 shares during the quarter. Point72 DIFC Ltd’s holdings in CarGurus were worth $115,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its holdings in shares of CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after acquiring an additional 89,346 shares during the last quarter. Prevatt Capital Ltd grew its position in CarGurus by 7.0% during the 3rd 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 during the period. Select Equity Group L.P. raised its stake in shares of CarGurus by 2.8% during the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after buying an additional 31,431 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of CarGurus by 26.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after buying an additional 228,380 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after buying an additional 89,815 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on CARG shares. Royal Bank of Canada raised 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. JMP Securities lifted their target price on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Oppenheimer increased their target price on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

Insider Transactions at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the transaction, the chief marketing officer now owns 119,330 shares in the company, valued at approximately $3,572,740.20. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now directly owns 449,821 shares of the company’s stock, valued at $14,223,340.02. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,958 shares of company stock valued at $2,268,035 over the last ninety days. Insiders own 17.20% of the company’s stock.

CarGurus Trading Down 0.1 %

NASDAQ:CARG opened at $38.36 on Monday. The stock has a 50 day moving average of $33.44 and a two-hundred day moving average of $28.84. CarGurus, Inc. has a 12 month low of $21.12 and a 12 month high of $39.10. The firm has a market cap of $3.98 billion, a P/E ratio of -83.39, a price-to-earnings-growth ratio of 2.04 and a beta of 1.57.

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.