Linden Thomas Advisory Services LLC Buys New Position in CarGurus, Inc. (NASDAQ:CARG)

Linden Thomas Advisory Services LLC purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 5,488 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after purchasing an additional 393 shares during the last quarter. Signaturefd LLC lifted its position in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares in the last quarter. Fifth Third Bancorp boosted its stake in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the last quarter. Point72 DIFC Ltd grew its holdings in shares of CarGurus by 15.2% in the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock valued at $115,000 after acquiring an additional 504 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of CarGurus by 5.3% in the third quarter. Central Pacific Bank Trust Division now owns 10,410 shares of the company’s stock valued at $313,000 after acquiring an additional 520 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Trading Up 0.2 %

CarGurus stock opened at $38.99 on Tuesday. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of -84.76, a PEG ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.62. The stock’s 50 day moving average is $37.14 and its 200-day moving average is $31.93.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the sale, the chief operating officer now directly owns 442,321 shares in the company, valued at approximately $15,671,433.03. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 74,556 shares of company stock worth $2,682,940 in the last ninety days. 17.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on CARG. BTIG Research raised their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities restated a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC upped their price target on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two 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’s stock. Based on data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $38.41.

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.