Blueshift Asset Management LLC Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Blueshift Asset Management LLC purchased a new position in CarGurus, Inc. (NASDAQ:CARG) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,176 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P bought a new stake in CarGurus in the third quarter worth $21,052,000. Marshall Wace LLP boosted its stake in CarGurus by 3,512.4% in the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after purchasing an additional 467,042 shares in the last quarter. Assenagon Asset Management S.A. grew its position in CarGurus by 629.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after purchasing an additional 321,318 shares during the last quarter. Fort Washington Investment Advisors Inc. OH increased its stake in CarGurus by 26.5% during 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 purchasing an additional 228,380 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in CarGurus in the first quarter worth about $4,222,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CARG shares. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. JMP Securities increased their target price on CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research note on Friday, November 22nd. B. Riley lifted their target price on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. BTIG Research upped their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer lifted their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Two investment 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the transaction, the chief operating officer now owns 442,321 shares of the company’s stock, valued at $15,671,433.03. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,065 shares of company stock worth $2,356,336. Company insiders own 17.20% of the company’s stock.

CarGurus Trading Up 3.2 %

CARG opened at $37.64 on Friday. The company’s 50 day moving average is $32.29 and its 200 day moving average is $28.12. The company has a market cap of $3.90 billion, a price-to-earnings ratio of -81.82, a PEG ratio of 1.89 and a beta of 1.55. CarGurus, Inc. has a 12-month low of $21.02 and a 12-month high of $37.94.

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.