20,984 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Friedenthal Financial

Friedenthal Financial purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 20,984 shares of the company’s stock, valued at approximately $767,000.

Several other institutional investors also recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in shares of CarGurus during the 2nd quarter valued at approximately $532,000. Choreo LLC acquired a new position in shares of CarGurus in the second quarter worth about $563,000. State of New Jersey Common Pension Fund D purchased a new stake in shares of CarGurus during the 2nd quarter worth about $2,079,000. BOKF NA purchased a new position in shares of CarGurus in the 2nd quarter valued at about $316,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in CarGurus by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 118,240 shares of the company’s stock worth $3,098,000 after purchasing an additional 3,967 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ CARG traded up $0.40 during trading on Monday, hitting $35.96. 746,802 shares of the company were exchanged, compared to its average volume of 583,623. The company has a fifty day moving average price of $36.44 and a 200-day moving average price of $30.94. The firm has a market capitalization of $3.73 billion, a PE ratio of -78.17, a P/E/G ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,521 shares of company stock valued at $3,394,774 over the last ninety days. Company insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CARG. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. B. Riley upped their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Jefferies Financial Group lifted their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. 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 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

CarGurus 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.