Blue Trust Inc. Has $542,000 Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Blue Trust Inc. raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 36.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 14,833 shares of the company’s stock after buying an additional 3,952 shares during the quarter. Blue Trust Inc.’s holdings in CarGurus were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Fifth Third Bancorp raised its stake in CarGurus by 100.0% during the 4th 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 acquired a new position in shares of CarGurus during the third quarter valued at about $28,000. USA Financial Formulas acquired a new position in shares of CarGurus during the fourth quarter valued at about $35,000. Signaturefd LLC lifted its stake in shares of CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in CarGurus during the third quarter worth about $30,000. 86.90% of the stock is owned by institutional investors.

CarGurus Price Performance

Shares of CARG opened at $40.55 on Friday. The company has a market capitalization of $4.21 billion, a P/E ratio of -88.15, a PEG ratio of 1.70 and a beta of 1.58. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The business’s 50 day simple moving average is $37.44 and its 200-day simple moving average is $32.15.

Insider Buying and Selling at CarGurus

In related news, CEO Jason Trevisan sold 10,000 shares of the firm’s 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 completion of the sale, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $35.43, for a total value of $891,702.24. Following the transaction, the chief operating officer now directly owns 442,321 shares in the company, valued at approximately $15,671,433.03. This represents a 5.38 % 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 worth $2,682,940. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CARG. Needham & Company LLC raised their price objective on CarGurus from $39.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. BTIG Research increased their price objective on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Finally, Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.41.

CarGurus 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.