Hennion & Walsh Asset Management Inc. Raises Stake in CarGurus, Inc. (NASDAQ:CARG)

Hennion & Walsh Asset Management Inc. grew its position in CarGurus, Inc. (NASDAQ:CARG) by 14.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 13,938 shares of the company’s stock after purchasing an additional 1,781 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CarGurus were worth $509,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CARG. Loomis Sayles & Co. L P purchased a new position in CarGurus in the third quarter worth about $21,052,000. Marshall Wace LLP raised its holdings in CarGurus by 3,512.4% in the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after buying an additional 467,042 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in CarGurus by 629.3% in the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after buying an additional 321,318 shares during the last quarter. State Street Corp raised its holdings in CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Finally, Barclays PLC raised its holdings in CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after buying an additional 121,341 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on CARG shares. BTIG Research lifted their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Jefferies Financial Group lifted their price target 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, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.41.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the transaction, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the company’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 transaction, the chief executive officer now owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,353 shares of company stock worth $2,598,961. 17.20% of the stock is owned by company insiders.

CarGurus Trading Up 0.4 %

Shares of NASDAQ CARG opened at $37.79 on Tuesday. The firm has a 50 day moving average of $36.87 and a 200 day moving average of $31.44. The firm has a market capitalization of $3.92 billion, a price-to-earnings ratio of -82.15, a price-to-earnings-growth ratio of 1.61 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.10.

CarGurus Company 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.