Bollard Group LLC cut its position in CarGurus Inc (NASDAQ:CARG) by 8.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,595,589 shares of the company’s stock after selling 155,110 shares during the period. CarGurus makes up about 2.4% of Bollard Group LLC’s investment portfolio, making the stock its 3rd largest position. Bollard Group LLC’s holdings in CarGurus were worth $53,819,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Quantamental Technologies LLC bought a new position in CarGurus during the fourth quarter worth $78,000. CIBC Asset Management Inc bought a new stake in shares of CarGurus in the third quarter valued at about $209,000. LPL Financial LLC bought a new stake in shares of CarGurus in the third quarter valued at about $234,000. United Services Automobile Association bought a new stake in shares of CarGurus in the third quarter valued at about $240,000. Finally, Calamos Advisors LLC bought a new stake in shares of CarGurus in the third quarter valued at about $292,000. 68.69% of the stock is owned by institutional investors and hedge funds.

In other news, VP Kathleen Bender Patton sold 3,895 shares of the company’s stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $38.42, for a total value of $149,645.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Anastasios Parafestas sold 2,700 shares of the company’s stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $42.56, for a total value of $114,912.00. The disclosure for this sale can be found here. Insiders sold 1,727,602 shares of company stock valued at $64,680,253 in the last ninety days. 51.03% of the stock is currently owned by insiders.

CarGurus stock opened at $38.60 on Monday. CarGurus Inc has a 1 year low of $28.52 and a 1 year high of $57.25. The company has a market capitalization of $4.25 billion, a PE ratio of 321.67, a PEG ratio of 41.06 and a beta of 2.04.

CARG has been the subject of a number of analyst reports. Oppenheimer initiated coverage on CarGurus in a research note on Tuesday, January 8th. They issued a “buy” rating and a $42.00 price target for the company. SunTrust Banks initiated coverage on CarGurus in a research note on Monday, November 19th. They issued a “buy” rating and a $49.00 price target for the company. CIBC started coverage on CarGurus in a research note on Wednesday, January 9th. They issued an “outperform” rating and a $42.00 price target for the company. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research note on Tuesday, January 8th. Finally, BidaskClub downgraded CarGurus from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. CarGurus currently has an average rating of “Buy” and a consensus target price of $49.00.

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CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

Further Reading: How to Calculate Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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