Centiva Capital LP Has $270,000 Stake in CarGurus, Inc. (NASDAQ:CARG)

Centiva Capital LP cut its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 61.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. CWM LLC increased its holdings 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 acquiring an additional 485 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of CarGurus in the second quarter valued at $1,338,000. Blue Trust Inc. raised its position in shares of CarGurus by 314.3% in the second quarter. Blue Trust Inc. now owns 4,288 shares of the company's stock valued at $112,000 after purchasing an additional 3,253 shares during the period. Raymond James & Associates raised its position in shares of CarGurus by 2.2% in the second quarter. Raymond James & Associates now owns 534,939 shares of the company's stock valued at $14,015,000 after purchasing an additional 11,584 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company's stock worth $41,000 after buying an additional 479 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CARG. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Citigroup raised CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. B. Riley lifted their price target on CarGurus from $30.00 to $40.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Royal Bank of Canada upped their price objective on CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Finally, Jefferies Financial Group lifted their target price on CarGurus from $35.00 to $38.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, CarGurus currently has an average rating of "Moderate Buy" and an average target price of $37.86.

Insider Buying and Selling

In other CarGurus news, CMO Dafna Sarnoff sold 4,127 shares of CarGurus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the transaction, the chief marketing officer now owns 119,330 shares in the company, valued at $3,572,740.20. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares of the company's stock, valued at $14,223,340.02. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 67,958 shares of company stock worth $2,268,035. Corporate insiders own 17.20% of the company's stock.

CarGurus Trading Down 0.8 %

CarGurus stock traded down $0.29 during trading hours on Thursday, reaching $37.76. 425,570 shares of the stock were exchanged, compared to its average volume of 814,164. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $39.10. The company has a market cap of $3.92 billion, a P/E ratio of -82.09, a price-to-earnings-growth ratio of 2.02 and a beta of 1.57. The stock has a 50 day moving average of $34.11 and a two-hundred day moving average of $29.16.

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.