CarGurus, Inc. (NASDAQ:CARG) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,364,859 shares of the company’s stock after selling 22,829 shares during the period. The Manufacturers Life Insurance Company’s holdings in CarGurus were worth $71,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its position in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. acquired a new stake in shares of CarGurus during the 3rd quarter valued at $30,000. CWM LLC boosted its position in shares of CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after purchasing an additional 485 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares during the period. Finally, GAMMA Investing LLC grew its position in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

Shares of CARG stock opened at $37.64 on Thursday. The firm has a market cap of $3.90 billion, a price-to-earnings ratio of -81.82, a P/E/G ratio of 1.89 and a beta of 1.55. The stock’s fifty day simple moving average is $32.13 and its 200 day simple moving average is $28.05. CarGurus, Inc. has a one year low of $21.02 and a one year high of $37.94.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CARG shares. 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 note on Friday, November 8th. Oppenheimer increased their target price on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. B. Riley lifted their price objective on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $37.86.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 10,000 shares of CarGurus 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 directly owns 779,606 shares of the company’s stock, valued at $27,605,848.46. The trade was a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,065 shares of company stock valued at $2,356,336. 17.20% of the stock is owned by insiders.

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.