Tybourne Capital Management HK Ltd. Decreases Stake in CarGurus, Inc. (NASDAQ:CARG)

Tybourne Capital Management HK Ltd. trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,981 shares of the company’s stock after selling 2,312 shares during the quarter. CarGurus accounts for about 0.8% of Tybourne Capital Management HK Ltd.’s investment portfolio, making the stock its 15th biggest position. Tybourne Capital Management HK Ltd.’s holdings in CarGurus were worth $3,002,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of CARG. GAMMA Investing LLC grew its stake in CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after purchasing an additional 393 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock valued at $450,000 after buying an additional 420 shares during the last quarter. Signaturefd LLC grew its position in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of CarGurus by 1.9% in the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after buying an additional 450 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its holdings in CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after acquiring an additional 479 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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 owns 442,321 shares in the company, valued at approximately $15,671,433.03. This represents a 5.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. This trade represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,065 shares of company stock worth $2,356,336. 17.20% of the stock is owned by insiders.

CarGurus Price Performance

NASDAQ:CARG opened at $37.64 on Thursday. The firm has a market capitalization of $3.90 billion, a P/E ratio of -81.82, a P/E/G ratio of 1.89 and a beta of 1.55. The business has a 50 day simple moving average of $32.29 and a 200 day simple moving average of $28.12. CarGurus, Inc. has a 12-month low of $21.02 and a 12-month high of $37.94.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Royal Bank of Canada raised their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Oppenheimer lifted their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. boosted their price objective on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BTIG Research increased their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.86.

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.