Shell Asset Management Co. Increases Holdings in CarGurus, Inc. (NASDAQ:CARG)

Shell Asset Management Co. grew its holdings in CarGurus, Inc. (NASDAQ:CARGGet Rating) by 48.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,866 shares of the company’s stock after acquiring an additional 4,868 shares during the period. Shell Asset Management Co.’s holdings in CarGurus were worth $319,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its position in shares of CarGurus by 6.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 78,606 shares of the company’s stock valued at $3,338,000 after acquiring an additional 4,500 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in CarGurus during the second quarter valued at approximately $1,195,000. SG Americas Securities LLC raised its position in CarGurus by 28.6% during the first quarter. SG Americas Securities LLC now owns 46,835 shares of the company’s stock valued at $1,989,000 after purchasing an additional 10,410 shares during the period. CIBC Asset Management Inc purchased a new stake in CarGurus during the first quarter valued at approximately $205,000. Finally, EAM Investors LLC purchased a new stake in CarGurus during the first quarter valued at approximately $1,822,000. 86.18% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CARG shares. Benchmark decreased their price objective on CarGurus to $37.00 in a research report on Monday, August 15th. Oppenheimer dropped their price objective on CarGurus from $26.00 to $16.00 in a research note on Thursday, November 10th. Needham & Company LLC dropped their price objective on CarGurus from $21.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 9th. Truist Financial dropped their price objective on CarGurus from $31.00 to $22.00 in a research note on Wednesday, November 9th. Finally, Royal Bank of Canada dropped their price objective on CarGurus from $35.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 9th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $23.59.

CarGurus Price Performance

Shares of CARG stock opened at $13.42 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -11.57, a price-to-earnings-growth ratio of 2.80 and a beta of 1.63. The business has a fifty day moving average of $14.67 and a 200 day moving average of $20.26. CarGurus, Inc. has a 1 year low of $9.14 and a 1 year high of $50.03.

CarGurus Company Profile

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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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