Linden Thomas Advisory Services LLC Invests $201,000 in CarGurus, Inc. (NASDAQ:CARG)

Linden Thomas Advisory Services LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, Holdings Channel.com reports. The fund acquired 5,488 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the 3rd quarter valued at $28,000. Signaturefd LLC boosted its stake in CarGurus by 81.3% in the third 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 position in CarGurus in the third quarter valued at about $30,000. Fifth Third Bancorp raised its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of CarGurus in the fourth quarter worth about $35,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Performance

CarGurus stock opened at $38.99 on Tuesday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of -84.76, a PEG ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $39.62. The firm has a 50 day moving average price of $37.14 and a two-hundred day moving average price of $31.93.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CARG shares. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. BTIG Research upped their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. B. Riley raised their price objective 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 upped their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Finally, Needham & Company LLC lifted their price target on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two investment 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 stock. Based on data from MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $38.41.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24. Following the sale, the chief operating officer now owns 442,321 shares in the company, valued at $15,671,433.03. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,556 shares of company stock worth $2,682,940 over the last three months. 17.20% of the stock is 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.