Prudent Man Advisors LLC Invests $206,000 in CarGurus, Inc. (NASDAQ:CARG)

Prudent Man Advisors LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,845 shares of the company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its holdings in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the third quarter worth $30,000. CWM LLC increased its holdings in CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 485 shares during the period. Nisa Investment Advisors LLC raised its position in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Down 0.7 %

Shares of CARG opened at $35.40 on Tuesday. The business’s fifty day moving average is $31.09 and its 200 day moving average is $27.42. CarGurus, Inc. has a 12-month low of $20.02 and a 12-month high of $37.94. The stock has a market cap of $3.67 billion, a P/E ratio of -76.96, a P/E/G ratio of 1.98 and a beta of 1.55.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Needham & Company LLC increased their price target on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. JMP Securities increased their target price on shares of CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research report on Monday, November 11th. BTIG Research raised their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group lifted their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and an average price target of $37.41.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 4,127 shares of the 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 completion of the sale, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. This represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction on Wednesday, October 2nd. The stock was 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 in the company, valued at $6,053,633.28. This 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 have sold 35,897 shares of company stock worth $1,110,533. 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.