Tybourne Capital Management HK Ltd. Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

Tybourne Capital Management HK Ltd. lessened its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,981 shares of the company’s stock after selling 2,312 shares during the quarter. CarGurus comprises about 0.8% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 15th biggest position. Tybourne Capital Management HK Ltd. owned about 0.10% of CarGurus worth $3,002,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC boosted its stake in shares of CarGurus by 19.0% during the third quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after acquiring an additional 393 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after purchasing an additional 420 shares during the last quarter. Signaturefd LLC grew its holdings in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of CarGurus by 1.9% in the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock valued at $644,000 after buying an additional 450 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CARG. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Oppenheimer lifted their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Needham & Company LLC increased their price objective on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

Insider Buying and Selling at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This trade represents a 2.35 % 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, CTO Matthew Todd Quinn sold 3,495 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at $6,053,633.28. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,065 shares of company stock valued at $2,356,336 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $37.64 on Thursday. The stock has a 50-day simple moving average of $32.29 and a 200-day simple moving average of $28.12. The stock has a market capitalization of $3.90 billion, a P/E ratio of -81.82, a PEG ratio of 1.89 and a beta of 1.55. CarGurus, Inc. has a 1 year low of $21.02 and a 1 year high of $37.94.

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.