Janney Montgomery Scott LLC Has $338,000 Position in CarGurus, Inc. (NASDAQ:CARG)

Janney Montgomery Scott LLC lifted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 10.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,244 shares of the company’s stock after buying an additional 845 shares during the period. Janney Montgomery Scott LLC’s holdings in CarGurus were worth $338,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CARG. Point72 Hong Kong Ltd acquired a new stake in CarGurus during the 3rd quarter worth about $28,000. Signaturefd LLC lifted its position in shares of CarGurus by 81.3% in the third 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. purchased a new position in CarGurus during the third quarter valued at approximately $30,000. USA Financial Formulas acquired a new position in CarGurus in the 4th quarter valued at approximately $35,000. Finally, Quarry LP lifted its position in CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after buying an additional 913 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CARG. DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC upped their target price on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Royal Bank of Canada lifted 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. Jefferies Financial Group increased their price objective on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, B. Riley lifted their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Price Performance

Shares of CARG opened at $39.96 on Tuesday. The company has a market capitalization of $4.14 billion, a PE ratio of -86.87, a price-to-earnings-growth ratio of 1.79 and a beta of 1.59. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company’s fifty day moving average price is $37.76 and its 200 day moving average price is $32.90.

Insider Activity

In other news, CMO Dafna Sarnoff sold 10,570 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the sale, the chief marketing officer now owns 95,261 shares in the company, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following 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 have sold 94,556 shares of company stock valued at $3,450,140. 17.20% of the stock is owned by insiders.

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.