Central Pacific Bank Trust Division Trims Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Central Pacific Bank Trust Division trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,820 shares of the company’s stock after selling 1,590 shares during the period. Central Pacific Bank Trust Division’s holdings in CarGurus were worth $322,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of CARG. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus during the 3rd quarter worth approximately $28,000. Signaturefd LLC grew its position in CarGurus by 81.3% during 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. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus in the third quarter valued at $30,000. Quarry LP raised its position in shares of CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock worth $74,000 after acquiring an additional 393 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CarGurus

In related news, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction dated 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 directly owns 779,606 shares in the company, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at approximately $16,392,751.70. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,836 shares of company stock worth $2,324,364 in the last quarter. Company insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

Shares of CarGurus stock opened at $35.82 on Friday. The business’s 50 day moving average price is $35.90 and its 200 day moving average price is $30.47. The company has a market cap of $3.71 billion, a price-to-earnings ratio of -77.87, a PEG ratio of 2.00 and a beta of 1.58. CarGurus, Inc. has a one year low of $21.18 and a one year high of $39.10.

Wall Street Analyst Weigh In

CARG has been the subject of a number of analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Oppenheimer lifted their price target on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group upped their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. BTIG Research lifted 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, DA Davidson upped their price target on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.86.

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.