Gagnon Securities LLC Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

Gagnon Securities LLC cut its stake in CarGurus, Inc. (NASDAQ:CARG) by 0.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 414,998 shares of the company’s stock after selling 264 shares during the period. CarGurus accounts for 3.1% of Gagnon Securities LLC’s portfolio, making the stock its 8th biggest position. Gagnon Securities LLC’s holdings in CarGurus were worth $15,164,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings 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 in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the 3rd quarter worth approximately $28,000. USA Financial Formulas bought a new position in shares of CarGurus during the 4th quarter worth approximately $35,000. Signaturefd LLC boosted its holdings in shares of 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. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus during the 3rd quarter worth approximately $30,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 7,500 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,556 shares of company stock valued at $2,682,940. 17.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARG shares. Needham & Company LLC increased their price target on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. B. Riley upped their target price on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. BTIG Research upped their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average price target of $38.41.

CarGurus Trading Down 3.3 %

NASDAQ CARG opened at $39.20 on Friday. The firm has a market capitalization of $4.07 billion, a P/E ratio of -85.22, a PEG ratio of 1.79 and a beta of 1.58. The business has a fifty day simple moving average of $37.51 and a 200 day simple moving average of $32.24. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

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.