Raymond James Trust N.A. Purchases 4,763 Shares of CarGurus, Inc. (NASDAQ:CARG)

Raymond James Trust N.A. grew its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 19.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,329 shares of the company’s stock after buying an additional 4,763 shares during the quarter. Raymond James Trust N.A.’s holdings in CarGurus were worth $881,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Swedbank AB bought a new stake in shares of CarGurus during the first quarter valued at approximately $1,352,000. Los Angeles Capital Management LLC grew its stake in shares of CarGurus by 51.9% during the third quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after purchasing an additional 22,004 shares during the last quarter. SG Capital Management LLC bought a new stake in shares of CarGurus during the first quarter valued at approximately $4,222,000. Vanguard Group Inc. grew its stake in shares of CarGurus by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after purchasing an additional 107,244 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of CarGurus during the third quarter valued at approximately $451,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Oppenheimer raised their price objective on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. DA Davidson raised their price objective on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, Royal Bank of Canada raised their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Two research 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’s stock. According to MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 4,127 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total transaction of $123,562.38. Following the sale, the chief marketing officer now directly owns 119,330 shares in the company, valued at $3,572,740.20. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 sale, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,065 shares of company stock worth $2,356,336. Company insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

CARG opened at $35.62 on Monday. The firm’s fifty day moving average is $31.86 and its two-hundred day moving average is $27.83. The firm has a market cap of $3.69 billion, a PE ratio of -77.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. CarGurus, Inc. has a twelve month low of $21.02 and a twelve month high of $37.94.

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.