Fort Washington Investment Advisors Inc. OH Trims Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Fort Washington Investment Advisors Inc. OH cut its holdings in CarGurus, Inc. (NASDAQ:CARG) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 985,790 shares of the company’s stock after selling 167,665 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned approximately 0.95% of CarGurus worth $36,021,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after buying an additional 151,862 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new stake in shares of CarGurus during the third quarter valued at $503,000. Los Angeles Capital Management LLC increased its position in CarGurus by 51.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock worth $1,934,000 after purchasing an additional 22,004 shares in the last quarter. Finally, Friedenthal Financial purchased a new stake in CarGurus during the 4th quarter worth about $767,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at CarGurus

In related news, CTO Matthew Todd Quinn sold 4,678 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the sale, the chief technology officer now directly owns 195,795 shares in the company, valued at approximately $7,005,545.10. This trade represents a 2.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was 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 represents a 1.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,556 shares of company stock valued at $2,682,940 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

CarGurus Price Performance

NASDAQ CARG opened at $38.49 on Wednesday. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $39.10. The firm has a market capitalization of $3.99 billion, a P/E ratio of -83.67, a P/E/G ratio of 1.67 and a beta of 1.58. The business’s 50-day simple moving average is $36.87 and its 200-day simple moving average is $31.44.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. BTIG Research raised their price target 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. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Oppenheimer boosted their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. B. Riley raised their price objective on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Needham & Company LLC upped their target price on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

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.