Alpha DNA Investment Management LLC Purchases Shares of 16,736 CarGurus, Inc. (NASDAQ:CARG)

Alpha DNA Investment Management LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 16,736 shares of the company’s stock, valued at approximately $503,000.

A number of other institutional investors have also modified their holdings of the stock. Signaturefd LLC grew its holdings in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. purchased a new stake in CarGurus in the 3rd quarter worth approximately $30,000. CWM LLC boosted its position in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares during the period. Finally, GAMMA Investing LLC increased its holdings in shares of CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 71,065 shares of company stock worth $2,356,336 over the last three months. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. JMP Securities raised their price target on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research report on Friday. Needham & Company LLC raised their target price on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. upped their price target on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. DA Davidson increased their price target on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, B. Riley boosted their price objective on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Stock Performance

NASDAQ CARG opened at $35.62 on Friday. CarGurus, Inc. has a one year low of $21.02 and a one year high of $37.94. The business has a fifty day moving average price of $31.86 and a 200 day moving average price of $27.79. The company has a market cap of $3.69 billion, a P/E ratio of -77.43, a P/E/G ratio of 1.88 and a beta of 1.55.

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.