Dakota Wealth Management Buys New Shares in CarGurus, Inc. (NASDAQ:CARG)

Dakota Wealth Management purchased a new position in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,675 shares of the company’s stock, valued at approximately $902,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Loomis Sayles & Co. L P acquired a new stake in shares of CarGurus in the third quarter worth approximately $21,052,000. Marshall Wace LLP boosted its holdings in shares of CarGurus by 3,512.4% in the 2nd quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after purchasing an additional 467,042 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of CarGurus by 629.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after buying an additional 321,318 shares during the period. State Street Corp increased its holdings in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Finally, Barclays PLC raised its position in shares of CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after buying an additional 121,341 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

Shares of CARG opened at $38.93 on Friday. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.62. The stock has a 50-day moving average price of $37.07 and a 200 day moving average price of $31.74. The company has a market capitalization of $4.04 billion, a P/E ratio of -84.63, a P/E/G ratio of 1.70 and a beta of 1.58.

Insider Activity

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. 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 dated Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the sale, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at approximately $15,671,433.03. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,556 shares of company stock worth $2,682,940. 17.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on CARG. JMP Securities restated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer raised their price target on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on shares of 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 raised their target price on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC upped their price target on shares of CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Two 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’s stock. According to MarketBeat, CarGurus has an average rating of “Moderate Buy” and an average target price of $38.41.

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.