701,055 Shares in CarGurus, Inc. (NASDAQ:CARG) Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 701,055 shares of the company’s stock, valued at approximately $21,052,000. Loomis Sayles & Co. L P owned approximately 0.68% of CarGurus at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of CarGurus by 1.1% in the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after buying an additional 107,244 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in CarGurus by 6.5% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after acquiring an additional 89,346 shares in the last quarter. Select Equity Group L.P. lifted its position in shares of CarGurus by 2.8% during the 2nd quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after acquiring an additional 31,431 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings in shares of CarGurus by 26.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after purchasing an additional 228,380 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Institutional investors own 86.90% of the company’s stock.

CarGurus Trading Up 1.8 %

Shares of CARG stock opened at $36.46 on Wednesday. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of -79.26, a PEG ratio of 1.88 and a beta of 1.55. The business’s 50-day moving average price is $32.00 and its 200-day moving average price is $27.96. CarGurus, Inc. has a 12 month low of $21.02 and a 12 month high of $37.94.

Insider Buying and Selling

In related news, CEO Jason Trevisan sold 10,000 shares of the firm’s stock in a transaction 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 directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 2.35 % 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 worth $2,356,336 in the last ninety days. Company insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CARG has been the topic of a number of analyst reports. B. Riley increased their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. DA Davidson increased their price target 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. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. BTIG Research upped their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two investment 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 target price of $37.86.

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.