Dakota Wealth Management Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Dakota Wealth Management bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 24,675 shares of the company’s stock, valued at approximately $902,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Point72 Hong Kong Ltd acquired a new position in CarGurus during the 3rd quarter valued at approximately $28,000. USA Financial Formulas acquired a new position in shares of CarGurus during the fourth quarter valued at $35,000. Signaturefd LLC grew its position 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 acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus in the 3rd quarter worth about $30,000. Finally, Quarry LP increased its holdings in shares of CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.43, for a total transaction 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 approximately $15,671,433.03. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,556 shares of company stock worth $2,682,940. 17.20% of the stock is owned by insiders.

CarGurus Price Performance

Shares of CARG opened at $38.93 on Friday. The firm’s 50 day moving average is $37.07 and its 200-day moving average is $31.74. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $39.62. The stock has a market capitalization of $4.04 billion, a P/E ratio of -84.63, a P/E/G ratio of 1.70 and a beta of 1.58.

Wall Street Analyst Weigh In

Several research firms have commented on CARG. DA Davidson upped their target price on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Oppenheimer increased their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Finally, Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and an average target price of $38.41.

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.