Los Angeles Capital Management LLC Buys 22,004 Shares of CarGurus, Inc. (NASDAQ:CARG)

Los Angeles Capital Management LLC lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 51.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,417 shares of the company’s stock after buying an additional 22,004 shares during the period. Los Angeles Capital Management LLC owned about 0.06% of CarGurus worth $1,934,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CARG. Atria Investments Inc bought a new stake in shares of CarGurus during the third quarter worth $247,000. Principal Financial Group Inc. raised its stake in shares of CarGurus by 1.4% in the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock valued at $13,514,000 after purchasing an additional 6,186 shares during the period. Amalgamated Bank lifted its holdings in shares of CarGurus by 6.0% in the third quarter. Amalgamated Bank now owns 25,748 shares of the company’s stock valued at $773,000 after purchasing an additional 1,465 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of CarGurus during the third quarter worth about $217,000. Finally, New York State Teachers Retirement System grew its holdings in shares of CarGurus by 2.3% during the third quarter. New York State Teachers Retirement System now owns 36,295 shares of the company’s stock worth $1,090,000 after buying an additional 822 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JMP Securities raised their price target on shares of CarGurus from $32.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Monday. Needham & Company LLC raised their target price 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. DA Davidson lifted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, BTIG Research lifted their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and an average target price of $37.41.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares in the company, valued at approximately $14,223,340.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CMO Dafna Sarnoff sold 4,127 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the transaction, the chief marketing officer now owns 119,330 shares in the company, valued at approximately $3,572,740.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,065 shares of company stock valued at $1,823,794. 17.20% of the stock is owned by insiders.

CarGurus Stock Down 2.5 %

NASDAQ:CARG opened at $36.57 on Thursday. CarGurus, Inc. has a 12-month low of $18.90 and a 12-month high of $37.94. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -79.50, a P/E/G ratio of 2.09 and a beta of 1.55. The stock’s 50 day moving average price is $30.76 and its two-hundred day moving average price is $27.20.

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.