UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 25,106 Shares of CarGurus, Inc. (NASDAQ:CARG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 14.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 152,498 shares of the company’s stock after selling 25,106 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of CarGurus worth $4,580,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. CWM LLC lifted its stake in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of CarGurus in the 2nd quarter valued at $1,338,000. Blue Trust Inc. lifted its stake in shares of CarGurus by 314.3% in the 2nd quarter. Blue Trust Inc. now owns 4,288 shares of the company’s stock valued at $112,000 after purchasing an additional 3,253 shares during the period. Raymond James & Associates lifted its stake in CarGurus by 2.2% in the second quarter. Raymond James & Associates now owns 534,939 shares of the company’s stock valued at $14,015,000 after buying an additional 11,584 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Down 0.2 %

Shares of NASDAQ CARG opened at $38.05 on Thursday. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $39.10. The firm has a market capitalization of $3.95 billion, a price-to-earnings ratio of -82.72, a PEG ratio of 2.02 and a beta of 1.57. The business has a 50-day moving average of $33.94 and a 200-day moving average of $29.10.

Analyst Upgrades and Downgrades

CARG has been the topic of several recent research reports. B. Riley increased their price target on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Jefferies Financial Group upped their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock 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 stock an “overweight” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, 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. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.86.

Insider Activity

In related news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of the business’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 completion of the sale, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 67,958 shares of company stock worth $2,268,035. 17.20% of the stock is currently owned by corporate insiders.

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.