CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Baillie Gifford & Co.

Baillie Gifford & Co. decreased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 23,693 shares of the company’s stock after selling 340 shares during the period. Baillie Gifford & Co.’s holdings in CarGurus were worth $712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Texas Permanent School Fund Corp increased its stake in CarGurus by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 74,986 shares of the company’s stock worth $1,731,000 after acquiring an additional 980 shares during the last quarter. Swiss National Bank increased its position in CarGurus by 4.7% during the 1st quarter. Swiss National Bank now owns 171,000 shares of the company’s stock worth $3,947,000 after purchasing an additional 7,700 shares in the last quarter. Headlands Technologies LLC purchased a new position in CarGurus in the first quarter valued at approximately $49,000. ProShare Advisors LLC lifted its position in CarGurus by 5.6% during the first quarter. ProShare Advisors LLC now owns 19,116 shares of the company’s stock valued at $441,000 after buying an additional 1,018 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in CarGurus by 23.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,778 shares of the company’s stock worth $595,000 after buying an additional 4,885 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CARG shares. Oppenheimer raised their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. B. Riley raised their price objective on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday. JMP Securities upped 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. Royal Bank of Canada raised their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and a consensus target price of $37.41.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Todd Quinn sold 3,495 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the sale, the chief technology officer now owns 205,696 shares in the company, valued at approximately $6,053,633.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CTO Matthew Todd Quinn sold 3,495 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now directly owns 205,696 shares in the company, valued at approximately $6,053,633.28. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares of the company’s stock, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock worth $1,823,794 in the last ninety days. 17.20% of the stock is owned by insiders.

CarGurus Trading Down 2.5 %

CARG stock opened at $36.57 on Thursday. The firm has a 50 day simple moving average of $30.76 and a 200-day simple moving average of $27.20. The company has a market capitalization of $3.78 billion, a P/E ratio of -79.50, a PEG ratio of 2.09 and a beta of 1.55. CarGurus, Inc. has a twelve month low of $18.90 and a twelve month high of $37.94.

About CarGurus

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.