Dynamic Technology Lab Private Ltd Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Dynamic Technology Lab Private Ltd bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,492 shares of the company’s stock, valued at approximately $735,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Signaturefd LLC lifted its position in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus in the 3rd quarter valued at about $30,000. CWM LLC grew its position in CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This trade represents a 2.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the transaction, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. This represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,065 shares of company stock valued at $2,356,336 in the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

CARG has been the subject of a number of recent research reports. Oppenheimer lifted their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. 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 report on Friday, November 8th. Jefferies Financial Group raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, JMP Securities raised their price objective on shares of CarGurus from $41.00 to $46.00 and gave the stock a “market outperform” rating in a research note on Friday, November 22nd. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

CarGurus Stock Performance

CarGurus stock opened at $37.64 on Friday. CarGurus, Inc. has a fifty-two week low of $21.02 and a fifty-two week high of $37.94. The company has a market capitalization of $3.90 billion, a PE ratio of -81.82, a P/E/G ratio of 1.89 and a beta of 1.55. The company has a 50 day moving average price of $32.29 and a 200-day moving average price of $28.12.

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.