Moody Aldrich Partners LLC Makes New $3.85 Million Investment in CarGurus, Inc. (NASDAQ:CARG)

Moody Aldrich Partners LLC bought a new position in CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 105,411 shares of the company’s stock, valued at approximately $3,852,000.

Other hedge funds have also added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new stake in shares of CarGurus during the third quarter valued at approximately $21,052,000. Assenagon Asset Management S.A. increased its holdings in shares of CarGurus by 629.3% during the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock valued at $11,183,000 after acquiring an additional 321,318 shares in the last quarter. State Street Corp increased its holdings in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares in the last quarter. Barclays PLC increased its holdings in shares of CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after acquiring an additional 121,341 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

CarGurus Trading Up 3.7 %

CARG opened at $40.45 on Wednesday. The stock has a market capitalization of $4.20 billion, a P/E ratio of -87.93, a PEG ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $40.70. The stock has a 50-day moving average price of $37.24 and a 200-day moving average price of $32.04.

Insider Activity at CarGurus

In other news, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the transaction, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 74,556 shares of company stock worth $2,682,940 in the last ninety days. 17.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CARG. BTIG Research lifted their target price on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $38.41.

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.