Point72 Asset Management L.P. Sells 152,733 Shares of CarGurus, Inc. (NASDAQ:CARG)

Point72 Asset Management L.P. lowered its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 80.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,500 shares of the company’s stock after selling 152,733 shares during the quarter. Point72 Asset Management L.P.’s holdings in CarGurus were worth $1,126,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of CARG. GAMMA Investing LLC grew its holdings in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares during the period. Signaturefd LLC grew its stake in 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 during the period. Raymond James Trust N.A. grew its stake in CarGurus by 1.9% in the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after purchasing an additional 450 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, CWM LLC lifted its position in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares during the period. 86.90% of the stock is owned by institutional investors.

Insider Transactions at CarGurus

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 directly owns 779,606 shares in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the transaction, the chief technology officer now owns 205,696 shares in the company, valued at $6,053,633.28. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,958 shares of company stock worth $2,268,035 in the last quarter. Company insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

CARG has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Oppenheimer upped their price objective on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. BTIG Research lifted 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. Needham & Company LLC upped their price target on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Finally, DA Davidson lifted their price objective on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.86.

CarGurus Stock Performance

CARG stock opened at $38.11 on Wednesday. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -82.85, a P/E/G ratio of 2.02 and a beta of 1.57. The business’s 50-day moving average is $33.76 and its two-hundred day moving average is $29.04. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $39.10.

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.