CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Centiva Capital LP

Centiva Capital LP lessened its position in CarGurus, Inc. (NASDAQ:CARG) by 61.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,984 shares of the company’s stock after selling 14,262 shares during the period. Centiva Capital LP’s holdings in CarGurus were worth $270,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CARG. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter worth $28,000. Signaturefd LLC grew its position in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus during the 3rd quarter valued at about $30,000. CWM LLC raised its position in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the sale, the chief technology officer now directly owns 205,696 shares of the company’s stock, valued at $6,053,633.28. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 442,321 shares of the company’s stock, valued at approximately $15,671,433.03. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,958 shares of company stock valued at $2,268,035. Company insiders own 17.20% of the company’s stock.

CarGurus Trading Down 0.2 %

NASDAQ CARG opened at $38.05 on Thursday. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $39.10. The stock’s 50-day moving average price is $33.94 and its two-hundred day moving average price is $29.10. The company has a market cap of $3.95 billion, a PE ratio of -82.72, a PEG ratio of 2.02 and a beta of 1.57.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on CARG shares. Needham & Company LLC raised their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Oppenheimer boosted their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Royal Bank of Canada raised their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Finally, BTIG Research lifted 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. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and an average price target of $37.86.

About CarGurus

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.