B. Metzler seel. Sohn & Co. Holding AG Takes $1.07 Million Position in CarGurus, Inc. (NASDAQ:CARG)

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to its most recent filing with the SEC. The firm purchased 35,699 shares of the company’s stock, valued at approximately $1,072,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after purchasing an additional 107,244 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of CarGurus by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after purchasing an additional 89,346 shares during the last quarter. Select Equity Group L.P. grew its position in shares of CarGurus by 2.8% in the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after purchasing an additional 31,431 shares during the last quarter. Fort Washington Investment Advisors Inc. OH grew its position in shares of CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after purchasing an additional 228,380 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of CarGurus by 2.2% in the second quarter. Raymond James & Associates now owns 534,939 shares of the company’s stock valued at $14,015,000 after purchasing an additional 11,584 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Performance

Shares of CARG opened at $35.62 on Friday. CarGurus, Inc. has a 1 year low of $21.02 and a 1 year high of $37.94. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -77.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The firm has a fifty day moving average of $31.86 and a 200-day moving average of $27.79.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CARG shares. Oppenheimer boosted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. JMP Securities boosted their price objective on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research report on Friday. JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. BTIG Research boosted their target price on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC upped their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.86.

Insider Activity

In other news, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 71,065 shares of company stock valued at $2,356,336. 17.20% of the stock is currently owned by company insiders.

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.