Bessemer Group Adds $5M in CarGurus, Inc. ($CARG)
Key Points
- Bessemer Group changed its CarGurus, Inc. ($CARG) stake by 18.2% last quarter, boosting to 1,085,061 shares worth $30.03 million.
- $CARG last traded around $27.68.
Bessemer Group increased its position in CarGurus, Inc. ($CARG) by 18.2% during the most recent quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,085,061 shares of CarGurus, Inc. after buying 166,954 shares during the quarter. Bessemer Group's holdings in CarGurus, Inc. were worth $30.03 million as of its most recent filing.
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About CarGurus, Inc.
CarGurus, Inc. operates an online automotive platform for buying and selling vehicles in the United States and internationally. The company offers dealer subscription fees, advertising from auto manufacturers and other brand advertisers, and partnerships with financing services companies. It provides an online automotive marketplace that connects large audience of car shoppers with extensive network of dealers, anchoring integrated suite of products. It also offers Digital Deal which allows consumers the option to start their vehicle purchase process online for eligible listings; Dealership Mode which provides consumers with on-the-lot support during visits to participating dealers through the CarGurus app; Sell My Car Top Dealer Offers which allows dealers to make tailored trade-in offers; and IMV Scan enables dealers to scan a VIN using their smartphone to access IMV data; and PriceVantage, an advanced pricing software powered by machine learning that leverages real-time consumer demand. In addition, the company provides auto manufacturers and others advertiser products, such as brand reinforcement, category sponsorship, automobile segment exclusivity, and consumer segment exposure; Autolist, an online automotive marketplace through mobile applications and a website; and PistonHeads which is an automotive marketplace, auction platform, and editorial site for automotive enthusiasts. The company was formerly known as CarGurus LLC and changed its name to CarGurus, Inc. in June 2015. CarGurus, Inc. was founded in 2005 and is headquartered in Boston, Massachusetts.
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