Prevatt Capital Ltd Has $36.94 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Prevatt Capital Ltd lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 7.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,230,000 shares of the company’s stock after buying an additional 80,000 shares during the period. CarGurus comprises about 12.2% of Prevatt Capital Ltd’s investment portfolio, making the stock its biggest position. Prevatt Capital Ltd’s holdings in CarGurus were worth $36,937,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the 3rd quarter worth $28,000. Signaturefd LLC lifted its stake in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CarGurus in the 3rd quarter worth about $30,000. CWM LLC increased its position in shares of CarGurus by 54.1% during the 2nd 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 last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in shares of CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CARG shares. Royal Bank of Canada increased their price target on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. B. Riley increased their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. DA Davidson upped their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Oppenheimer raised their price objective on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC raised their price target on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, eight have assigned 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.

Insider Buying and Selling at CarGurus

In other news, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the transaction, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 67,958 shares of company stock valued at $2,268,035. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $38.06 on Wednesday. The firm has a market capitalization of $3.95 billion, a P/E ratio of -82.74, a P/E/G ratio of 1.99 and a beta of 1.57. The stock has a 50 day moving average price of $32.90 and a 200-day moving average price of $28.53. CarGurus, Inc. has a 52-week low of $21.12 and a 52-week high of $38.15.

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.