CarGurus, Inc. (NASDAQ:CARG) Stake Raised by Blue Trust Inc.

Blue Trust Inc. grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 36.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,833 shares of the company’s stock after purchasing an additional 3,952 shares during the period. Blue Trust Inc.’s holdings in CarGurus were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter valued at $28,000. USA Financial Formulas acquired a new stake in shares of CarGurus during the 4th quarter valued at $35,000. Signaturefd LLC boosted its stake in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of CarGurus in the 3rd quarter worth $30,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.43, for a total transaction of $891,702.24. Following the completion of the sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,556 shares of company stock valued at $2,682,940. 17.20% of the stock is owned by corporate insiders.

CarGurus Trading Up 0.1 %

Shares of NASDAQ:CARG opened at $40.55 on Friday. The firm has a market cap of $4.21 billion, a price-to-earnings ratio of -88.15, a P/E/G ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The business has a fifty day simple moving average of $37.44 and a 200 day simple moving average of $32.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CARG shares. DA Davidson increased their price target on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. BTIG Research upped their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective 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. Finally, Needham & Company LLC increased their target price on CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.