Friedenthal Financial Invests $767,000 in CarGurus, Inc. (NASDAQ:CARG)

Friedenthal Financial acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, Holdings Channel.com reports. The firm acquired 20,984 shares of the company’s stock, valued at approximately $767,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CARG. Acadian Asset Management LLC acquired a new position in CarGurus in the 2nd quarter valued at about $532,000. Choreo LLC purchased a new position in shares of CarGurus in the second quarter valued at approximately $563,000. State of New Jersey Common Pension Fund D acquired a new position in shares of CarGurus in the second quarter valued at approximately $2,079,000. BOKF NA purchased a new stake in CarGurus during the 2nd quarter worth approximately $316,000. Finally, Massachusetts Financial Services Co. MA increased its stake in CarGurus by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 118,240 shares of the company’s stock worth $3,098,000 after buying an additional 3,967 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CARG shares. Royal Bank of Canada boosted their price target 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. 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. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. 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. Finally, DA Davidson boosted their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Stock Performance

NASDAQ CARG traded up $0.40 during trading hours on Monday, hitting $35.96. The company had a trading volume of 746,802 shares, compared to its average volume of 583,623. The business has a 50 day moving average of $36.44 and a 200-day moving average of $30.94. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The company has a market cap of $3.73 billion, a PE ratio of -78.17, a price-to-earnings-growth ratio of 2.00 and a beta of 1.58.

Insider Activity at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now 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 97,521 shares of company stock valued at $3,394,774 in the last three months. 17.20% of the stock is currently owned by company insiders.

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.