Glenmede Trust Co. NA Decreases Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Glenmede Trust Co. NA lessened its holdings in CarGurus, Inc. (NASDAQ:CARG) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 780,007 shares of the company’s stock after selling 9,305 shares during the period. Glenmede Trust Co. NA owned approximately 0.75% of CarGurus worth $23,424,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Signaturefd LLC lifted its holdings in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in shares of CarGurus in the 3rd quarter worth approximately $30,000. CWM LLC increased 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 valued at $36,000 after purchasing an additional 485 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares during the period. Finally, GAMMA Investing LLC lifted its position in CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after buying an additional 425 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on CARG shares. BTIG Research boosted their price objective 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. 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 report on Monday, November 11th. Oppenheimer raised their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. B. Riley raised their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, JMP Securities boosted their price objective on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a research report on Friday, November 22nd. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $37.64 on Thursday. CarGurus, Inc. has a 1-year low of $21.02 and a 1-year high of $37.94. The business has a fifty day moving average price of $32.13 and a 200 day moving average price of $28.05. The stock has a market capitalization of $3.90 billion, a P/E ratio of -81.82, a price-to-earnings-growth ratio of 1.89 and a beta of 1.55.

Insider Transactions at CarGurus

In other news, CEO Jason Trevisan sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 779,606 shares in the company, valued at $27,605,848.46. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the sale, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,065 shares of company stock valued at $2,356,336 in the last quarter. 17.20% of the stock is currently owned by corporate insiders.

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.