Baillie Gifford & Co. Reduces Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Baillie Gifford & Co. lessened its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 10.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,315 shares of the company’s stock after selling 2,378 shares during the quarter. Baillie Gifford & Co.’s holdings in CarGurus were worth $779,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp increased its position in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Geode Capital Management LLC boosted its stake in CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after buying an additional 74,730 shares during the last quarter. Prevatt Capital Ltd boosted its stake in CarGurus by 7.0% in the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after buying an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after buying an additional 89,815 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in CarGurus in the 3rd quarter worth about $21,052,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CarGurus stock opened at $39.97 on Wednesday. The stock’s 50 day moving average price is $37.90 and its 200 day moving average price is $33.43. The firm has a market capitalization of $4.14 billion, a PE ratio of -86.88, a price-to-earnings-growth ratio of 1.79 and a beta of 1.59. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33.

Insider Buying and Selling

In related news, COO Samuel Zales sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the transaction, the chief technology officer now directly owns 195,795 shares in the company, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,388 shares of company stock valued at $2,204,338. Corporate insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on CARG shares. Jefferies Financial Group raised their price target on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. JPMorgan Chase & Co. raised their price target 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 raised their price target on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two research 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

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.