Choreo LLC Reduces Position in CarGurus, Inc. (NASDAQ:CARG)

Choreo LLC trimmed its holdings in CarGurus, Inc. (NASDAQ:CARG) by 12.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 20,599 shares of the company’s stock after selling 3,057 shares during the quarter. Choreo LLC’s holdings in CarGurus were worth $763,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the period. Point72 Hong Kong Ltd purchased a new stake in CarGurus in the third quarter worth approximately $28,000. USA Financial Formulas bought a new stake in CarGurus in the 4th quarter worth approximately $35,000. Signaturefd LLC raised its stake in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after buying an additional 430 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $39.58 on Monday. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The firm has a fifty day moving average price of $37.72 and a 200-day moving average price of $32.80. The stock has a market cap of $4.10 billion, a PE ratio of -86.04, a price-to-earnings-growth ratio of 1.79 and a beta of 1.59.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 10,570 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total value of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at $15,344,959. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 94,556 shares of company stock worth $3,450,140. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on CARG shares. Oppenheimer lifted their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price target on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. BTIG Research boosted their target price 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. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. 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. Based on data from MarketBeat.com, the company currently has an average 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.