9,176 Shares in CarGurus, Inc. (NASDAQ:CARG) Acquired by Blueshift Asset Management LLC

Blueshift Asset Management LLC purchased a new position in CarGurus, Inc. (NASDAQ:CARG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,176 shares of the company’s stock, valued at approximately $276,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans boosted its position in shares of CarGurus by 6.5% during the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after acquiring an additional 89,346 shares during the last quarter. Select Equity Group L.P. increased its holdings in CarGurus by 2.8% in 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 last quarter. Fort Washington Investment Advisors Inc. OH lifted its stake 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 worth $28,567,000 after purchasing an additional 228,380 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in shares of CarGurus during the third quarter valued at about $21,052,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Dafna Sarnoff sold 4,127 shares of the business’s stock in a transaction that occurred on 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 owns 119,330 shares of the company’s stock, valued at $3,572,740.20. The trade was a 3.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,065 shares of company stock valued at $2,356,336. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CARG. DA Davidson increased their price target on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Oppenheimer raised their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Needham & Company LLC boosted their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, BTIG Research boosted their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $37.64 on Friday. The company has a market cap of $3.90 billion, a P/E ratio of -81.82, a PEG ratio of 1.89 and a beta of 1.55. The firm has a 50-day simple moving average of $32.29 and a two-hundred day simple moving average of $28.12. CarGurus, Inc. has a 1 year low of $21.02 and a 1 year high of $37.94.

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.