Harbour Capital Advisors LLC Purchases Shares of 11,225 CarGurus, Inc. (NASDAQ:CARG)

Harbour Capital Advisors LLC acquired a new position in CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,225 shares of the company’s stock, valued at approximately $402,000.

Several other institutional investors have also recently made changes to their positions in CARG. Harbor Capital Advisors Inc. boosted its stake in CarGurus by 41.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,251 shares of the company’s stock worth $521,000 after purchasing an additional 4,200 shares during the period. Nordea Investment Management AB grew its stake in CarGurus by 4.3% during the fourth quarter. Nordea Investment Management AB now owns 313,474 shares of the company’s stock valued at $11,711,000 after acquiring an additional 12,899 shares in the last quarter. GAMMA Investing LLC increased its holdings in CarGurus by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock valued at $113,000 after acquiring an additional 640 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in CarGurus by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock worth $12,127,000 after purchasing an additional 9,744 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of CarGurus by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock valued at $13,514,000 after purchasing an additional 6,186 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 7,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now owns 434,821 shares of the company’s stock, valued at $16,392,751.70. This represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,521 shares of company stock valued at $3,394,774. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lifted 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. Oppenheimer upped their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. B. Riley boosted 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. Finally, Needham & Company LLC lifted their price objective on shares of CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.86.

CarGurus Trading Up 1.1 %

Shares of NASDAQ:CARG opened at $35.96 on Tuesday. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -78.17, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.10. The firm’s 50-day moving average is $36.53 and its 200 day moving average is $31.01.

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.