CarGurus, Inc. (NASDAQ:CARG) Stock Holdings Lessened by M&T Bank Corp

M&T Bank Corp lessened its stake in CarGurus, Inc. (NASDAQ:CARG) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 96,819 shares of the company’s stock after selling 24,170 shares during the quarter. M&T Bank Corp owned 0.09% of CarGurus worth $2,907,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd acquired a new stake in CarGurus during the third quarter valued at $28,000. Signaturefd LLC grew its stake in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in shares of CarGurus in the 3rd quarter valued at approximately $30,000. CWM LLC increased its holdings in CarGurus by 54.1% in the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after acquiring an additional 479 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. DA Davidson raised their price objective on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley increased their price target on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, BTIG Research raised their target price on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Trading Down 0.2 %

Shares of NASDAQ:CARG opened at $37.67 on Friday. The business’s 50 day moving average is $34.28 and its 200-day moving average is $29.26. The firm has a market capitalization of $3.91 billion, a PE ratio of -81.89, a PEG ratio of 2.00 and a beta of 1.57. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10.

Insider Buying and Selling at CarGurus

In related news, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the transaction, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at $6,053,633.28. This trade represents a 1.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 4,127 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was 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 represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,958 shares of company stock valued at $2,268,035 in the last 90 days. 17.20% of the stock is currently owned by company 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.