Prudent Man Advisors LLC Purchases Shares of 6,845 CarGurus, Inc. (NASDAQ:CARG)

Prudent Man Advisors LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 6,845 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in shares of CarGurus by 46.6% during the 3rd quarter. Natixis Advisors LLC now owns 23,248 shares of the company’s stock worth $698,000 after acquiring an additional 7,393 shares during the period. KBC Group NV lifted its holdings in CarGurus by 34.0% during the 3rd quarter. KBC Group NV now owns 3,397 shares of the company’s stock valued at $102,000 after purchasing an additional 862 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in CarGurus during the third quarter worth $608,000. Victory Capital Management Inc. increased its holdings in shares of CarGurus by 45.5% in the third quarter. Victory Capital Management Inc. now owns 94,939 shares of the company’s stock valued at $2,851,000 after purchasing an additional 29,674 shares during the last quarter. Finally, Aigen Investment Management LP bought a new position in shares of CarGurus in the third quarter valued at about $451,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on CARG shares. Needham & Company LLC lifted their target price on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. JPMorgan Chase & Co. increased their target price on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Oppenheimer upped their price objective on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.41.

CarGurus Stock Performance

NASDAQ:CARG opened at $35.40 on Tuesday. CarGurus, Inc. has a fifty-two week low of $20.02 and a fifty-two week high of $37.94. The company has a market cap of $3.67 billion, a price-to-earnings ratio of -76.96, a PEG ratio of 1.98 and a beta of 1.55. The stock has a fifty day moving average price of $31.09 and a 200-day moving average price of $27.42.

Insider Activity at CarGurus

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

CarGurus Company 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.