Boston Partners Has $34.27 Million Holdings in CarGurus, Inc. $CARG

Boston Partners boosted its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 17.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,031,988 shares of the company’s stock after purchasing an additional 153,432 shares during the period. Boston Partners’ holdings in CarGurus were worth $34,265,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of CarGurus during the second quarter worth about $27,000. Private Wealth Asset Management LLC bought a new stake in CarGurus in the 2nd quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in CarGurus during the 1st quarter worth approximately $46,000. Fifth Third Bancorp grew its stake in shares of CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after acquiring an additional 779 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock valued at $51,000 after purchasing an additional 799 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 9,998 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total transaction of $368,726.24. Following the completion of the sale, the insider owned 54,807 shares of the company’s stock, valued at $2,021,282.16. This trade represents a 15.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the sale, the chief operating officer directly owned 410,259 shares of the company’s stock, valued at approximately $14,350,859.82. The trade was a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,226 shares of company stock worth $1,471,482 over the last 90 days. Company insiders own 16.99% of the company’s stock.

CarGurus Stock Performance

Shares of CARG stock opened at $35.65 on Thursday. CarGurus, Inc. has a 52-week low of $24.65 and a 52-week high of $41.33. The stock has a market cap of $3.54 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 1.65 and a beta of 1.50. The firm’s 50-day moving average is $35.82 and its 200-day moving average is $33.49.

Analyst Ratings Changes

CARG has been the subject of several recent research reports. JPMorgan Chase & Co. increased their target price on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Oppenheimer decreased their price objective on CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CarGurus in a research report on Wednesday, October 8th. Zacks Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Finally, Needham & Company LLC raised their price target on CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, CarGurus has a consensus rating of “Hold” and an average price target of $40.22.

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.