Prevatt Capital Ltd Has $36.94 Million Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Prevatt Capital Ltd increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,230,000 shares of the company’s stock after acquiring an additional 80,000 shares during the quarter. CarGurus makes up about 12.2% of Prevatt Capital Ltd’s portfolio, making the stock its largest position. Prevatt Capital Ltd owned approximately 1.19% of CarGurus worth $36,937,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of CARG. NFJ Investment Group LLC acquired a new stake in CarGurus in the third quarter valued at approximately $2,076,000. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter valued at $28,000. Edgestream Partners L.P. grew its holdings in shares of CarGurus by 66.6% during the third quarter. Edgestream Partners L.P. now owns 31,212 shares of the company’s stock valued at $937,000 after buying an additional 12,477 shares during the last quarter. Verition Fund Management LLC increased its position in shares of CarGurus by 177.0% during the third quarter. Verition Fund Management LLC now owns 42,262 shares of the company’s stock worth $1,269,000 after acquiring an additional 27,005 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in shares of CarGurus in the 3rd quarter worth about $599,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the transaction, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at $15,671,433.03. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction on Monday, November 18th. The shares were 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 owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,958 shares of company stock valued at $2,268,035 over the last ninety days. 17.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CARG. DA Davidson boosted their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada upped their price target on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Needham & Company LLC raised their price objective on CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. BTIG Research upped their target price on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and a consensus target price of $37.86.

CarGurus Trading Up 0.5 %

NASDAQ:CARG opened at $38.06 on Wednesday. CarGurus, Inc. has a 12 month low of $21.12 and a 12 month high of $38.15. The firm’s 50 day moving average is $32.90 and its 200 day moving average is $28.53. The stock has a market capitalization of $3.95 billion, a PE ratio of -82.74, a price-to-earnings-growth ratio of 1.99 and a beta of 1.57.

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.