CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Amalgamated Bank

Amalgamated Bank increased its position in CarGurus, Inc. (NASDAQ:CARG) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,748 shares of the company’s stock after acquiring an additional 1,465 shares during the period. Amalgamated Bank’s holdings in CarGurus were worth $773,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UniSuper Management Pty Ltd acquired a new stake in shares of CarGurus during the first quarter worth $483,000. Swedbank AB acquired a new stake in shares of CarGurus during the first quarter worth $1,352,000. SG Capital Management LLC acquired a new stake in shares of CarGurus during the first quarter worth $4,222,000. Edgestream Partners L.P. acquired a new stake in shares of CarGurus during the first quarter worth $3,978,000. Finally, Vanguard Group Inc. boosted its holdings in shares of CarGurus by 1.1% during the first quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after purchasing an additional 107,244 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG opened at $35.64 on Friday. The firm’s fifty day moving average is $31.09 and its two-hundred day moving average is $27.35. The firm has a market cap of $3.68 billion, a PE ratio of -77.48, a price-to-earnings-growth ratio of 2.03 and a beta of 1.55. CarGurus, Inc. has a twelve month low of $18.90 and a twelve month high of $37.94.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. DA Davidson raised their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday, November 8th. JMP Securities increased their target price on CarGurus from $32.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada increased their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. Oppenheimer increased their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.41.

Insider Transactions at CarGurus

In related news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This trade represents a 2.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction on 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 approximately $6,053,633.28. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,897 shares of company stock valued at $1,110,533 over the last quarter. Corporate 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.