Aigen Investment Management LP Invests $451,000 in CarGurus, Inc. (NASDAQ:CARG)

Aigen Investment Management LP acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 15,017 shares of the company’s stock, valued at approximately $451,000.

A number of other hedge funds have also recently added to or reduced their stakes in CARG. Marshall Wace LLP grew its holdings in shares of CarGurus by 3,512.4% during the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after purchasing an additional 467,042 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in CarGurus by 629.3% during the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after buying an additional 321,318 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its holdings in CarGurus by 26.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after buying an additional 228,380 shares during the period. SG Capital Management LLC acquired a new position in shares of CarGurus in the 1st quarter valued at approximately $4,222,000. Finally, Edgestream Partners L.P. bought a new stake in shares of CarGurus during the 1st quarter worth approximately $3,978,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CarGurus stock opened at $35.89 on Friday. The firm’s fifty day moving average price is $30.76 and its 200-day moving average price is $27.20. CarGurus, Inc. has a fifty-two week low of $18.90 and a fifty-two week high of $37.94. The stock has a market cap of $3.71 billion, a P/E ratio of -78.02, a price-to-earnings-growth ratio of 2.09 and a beta of 1.55.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. 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. JMP Securities upped their price objective on CarGurus from $32.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Monday. B. Riley increased their price target on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday. Finally, BTIG Research lifted their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.41.

Insider Activity

In other news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the sale, the chief marketing officer now directly owns 119,330 shares of the company’s stock, valued at approximately $3,572,740.20. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares of the company’s stock, valued at approximately $14,223,340.02. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,897 shares of company stock valued at $1,110,533. 17.20% of the stock is currently owned by insiders.

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.