KBC Group NV Acquires 862 Shares of CarGurus, Inc. (NASDAQ:CARG)

KBC Group NV boosted its stake in CarGurus, Inc. (NASDAQ:CARG) by 34.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,397 shares of the company’s stock after purchasing an additional 862 shares during the period. KBC Group NV’s holdings in CarGurus were worth $102,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC raised its holdings in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus during the third quarter valued at approximately $30,000. CWM LLC grew its stake 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 purchasing an additional 485 shares during the period. Nisa Investment Advisors LLC raised its holdings in CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after buying an additional 425 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Price Performance

Shares of CARG stock opened at $35.73 on Friday. The business has a fifty day moving average of $31.59 and a 200 day moving average of $27.65. CarGurus, Inc. has a 1 year low of $20.63 and a 1 year high of $37.94. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of -77.67, a price-to-earnings-growth ratio of 1.87 and a beta of 1.55.

Insider Activity at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The trade was a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,065 shares of company stock worth $2,356,336. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CARG has been the subject of a number of recent research reports. JMP Securities lifted their price target on shares of CarGurus from $32.00 to $41.00 and gave the company a “market outperform” rating in a research report on Monday, November 11th. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their price target on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. BTIG Research upped their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two research 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.41.

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.