CarGurus, Inc. (NASDAQ:CARG) Position Reduced by Maverick Capital Ltd.

Maverick Capital Ltd. trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 4.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,748 shares of the company’s stock after selling 2,743 shares during the quarter. Maverick Capital Ltd. owned approximately 0.06% of CarGurus worth $1,794,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CARG. Price T Rowe Associates Inc. MD boosted its stake in CarGurus by 4.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,448 shares of the company’s stock valued at $1,303,000 after acquiring an additional 2,655 shares during the last quarter. Swedbank AB bought a new position in CarGurus during the 1st quarter valued at $1,352,000. GAMMA Investing LLC boosted its stake in 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 acquiring an additional 425 shares during the last quarter. CWM LLC boosted its stake in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new position in CarGurus during the 2nd quarter valued at $231,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CARG shares. B. Riley raised their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. BTIG Research raised their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price target on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC raised their price target on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Trading Up 0.5 %

CarGurus stock opened at $37.82 on Friday. The stock has a market cap of $3.92 billion, a price-to-earnings ratio of -82.22, a PEG ratio of 1.98 and a beta of 1.55. The company’s 50-day moving average price is $32.58 and its two-hundred day moving average price is $28.31. CarGurus, Inc. has a 52 week low of $21.02 and a 52 week high of $38.15.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 3,107 shares of CarGurus stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The trade was a 2.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24. Following the completion of the transaction, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,065 shares of company stock valued at $2,356,336. Company insiders own 17.20% of the company’s stock.

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.