R Squared Ltd Acquires Shares of 2,120 CarGurus, Inc. (NASDAQ:CARG)

R Squared Ltd acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,120 shares of the company’s stock, valued at approximately $77,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Moody Aldrich Partners LLC bought a new position in shares of CarGurus in the 4th quarter valued at $3,852,000. KBC Group NV increased its stake in shares of CarGurus by 42.1% in the 4th quarter. KBC Group NV now owns 4,826 shares of the company’s stock valued at $176,000 after purchasing an additional 1,429 shares during the last quarter. Blue Trust Inc. increased its stake in shares of CarGurus by 36.3% in the 4th quarter. Blue Trust Inc. now owns 14,833 shares of the company’s stock valued at $542,000 after purchasing an additional 3,952 shares during the last quarter. Linden Thomas Advisory Services LLC bought a new position in shares of CarGurus in the 4th quarter valued at $201,000. Finally, Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the transaction, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now directly owns 120,051 shares in the company, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 74,556 shares of company stock valued at $2,682,940 in the last ninety days. 17.20% of the stock is owned by company insiders.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $39.20 on Friday. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -85.22, a P/E/G ratio of 1.79 and a beta of 1.58. The business’s 50-day moving average is $37.51 and its 200-day moving average is $32.24. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33.

Wall Street Analyst Weigh In

CARG has been the topic of several recent analyst reports. 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 research note 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 research note on Friday, November 8th. Needham & Company LLC boosted their price objective on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, Jefferies Financial Group boosted their price objective on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.41.

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.