24,213 Shares in CarGurus, Inc. $CARG Acquired by Versor Investments LP

Versor Investments LP acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 24,213 shares of the company’s stock, valued at approximately $901,000.

Several other large investors have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CarGurus during the second quarter worth approximately $27,000. Private Wealth Asset Management LLC acquired a new stake in CarGurus during the 2nd quarter worth $29,000. Farther Finance Advisors LLC boosted its stake in CarGurus by 71.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock worth $40,000 after purchasing an additional 443 shares during the period. MAI Capital Management grew its position in CarGurus by 661.0% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after purchasing an additional 1,018 shares during the last quarter. Finally, First Horizon Corp acquired a new position in CarGurus in the third quarter valued at $51,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Stock Down 0.9%

Shares of NASDAQ:CARG opened at $28.24 on Wednesday. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $40.37. The company has a 50-day moving average price of $35.65 and a 200 day moving average price of $35.09. The company has a market cap of $2.70 billion, a P/E ratio of 19.21, a PEG ratio of 1.07 and a beta of 1.35.

Insider Activity

In other CarGurus news, CEO Jason Trevisan sold 16,548 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total value of $645,702.96. Following the completion of the transaction, the chief executive officer owned 630,483 shares in the company, valued at approximately $24,601,446.66. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jennifer Ladd Hanson sold 2,358 shares of the firm’s stock in a transaction on Wednesday, December 31st. The shares were sold at an average price of $38.10, for a total value of $89,839.80. Following the completion of the sale, the insider directly owned 50,466 shares of the company’s stock, valued at approximately $1,922,754.60. This trade represents a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,003 shares of company stock valued at $1,858,494 in the last three months. 17.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on CARG shares. Needham & Company LLC reduced their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a report on Thursday, February 5th. BTIG Research upped their price objective on CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Tuesday, December 30th. Citigroup increased their price objective on CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a report on Tuesday, October 14th. Finally, DA Davidson set a $37.50 price target on CarGurus in a report on Monday, November 17th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.23.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.