Public Sector Pension Investment Board Increases Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Public Sector Pension Investment Board increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 185,367 shares of the company’s stock after buying an additional 12,700 shares during the period. Public Sector Pension Investment Board owned 0.18% of CarGurus worth $5,567,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its holdings in shares of CarGurus by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,448 shares of the company’s stock worth $1,303,000 after acquiring an additional 2,655 shares during the period. Swedbank AB bought a new position in CarGurus in the 1st quarter worth about $1,352,000. GAMMA Investing LLC grew its holdings in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after buying an additional 425 shares in the last quarter. CWM LLC increased its position in shares of CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares during the period. Finally, Contravisory Investment Management Inc. bought a new stake in shares of CarGurus during the second quarter valued at about $231,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

CARG stock opened at $37.82 on Monday. CarGurus, Inc. has a one year low of $21.02 and a one year high of $38.15. The company’s 50 day moving average price is $32.58 and its two-hundred day moving average price is $28.33. The company has a market capitalization of $3.92 billion, a PE ratio of -82.22, a price-to-earnings-growth ratio of 1.99 and a beta of 1.55.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at approximately $14,223,340.02. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,065 shares of company stock valued at $2,356,336 over the last three months. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CARG. Needham & Company LLC boosted their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. DA Davidson increased their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted 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. Finally, BTIG Research raised 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. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and a consensus price target of $37.86.

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.