ArrowMark Colorado Holdings LLC Has $191.15 Million Stock Position in CarGurus, Inc. (NASDAQ:CARG)

ArrowMark Colorado Holdings LLC reduced its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 21.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 6,365,249 shares of the company’s stock after selling 1,760,564 shares during the period. CarGurus accounts for about 2.4% of ArrowMark Colorado Holdings LLC’s investment portfolio, making the stock its 4th largest holding. ArrowMark Colorado Holdings LLC owned approximately 0.06% of CarGurus worth $191,148,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in CarGurus by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock valued at $38,282,000 after purchasing an additional 89,346 shares in the last quarter. Select Equity Group L.P. raised its holdings in shares of CarGurus by 2.8% in the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after buying an additional 31,431 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in CarGurus by 26.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after buying an additional 228,380 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after acquiring an additional 89,815 shares during the last quarter. Finally, Loomis Sayles & Co. L P bought a new stake in shares of CarGurus during the third quarter valued at approximately $21,052,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Up 0.5 %

Shares of NASDAQ CARG opened at $37.82 on Monday. The company has a market capitalization of $3.92 billion, a PE ratio of -82.22, a P/E/G ratio of 1.99 and a beta of 1.55. CarGurus, Inc. has a twelve month low of $21.02 and a twelve month high of $38.15. The firm has a fifty day simple moving average of $32.58 and a 200 day simple moving average of $28.33.

Insider Activity

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,065 shares of company stock valued at $2,356,336 in the last ninety days. 17.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CARG. DA Davidson lifted their price objective on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. BTIG Research increased their price target on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC increased their price target on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, JMP Securities lifted their price target on CarGurus from $41.00 to $46.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

CarGurus 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.