Teachers Retirement System of The State of Kentucky raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 5.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 133,027 shares of the company’s stock after purchasing an additional 7,246 shares during the period. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of CarGurus worth $4,221,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of CARG. First Trust Advisors LP boosted its stake in CarGurus by 24.4% during the 1st quarter. First Trust Advisors LP now owns 92,854 shares of the company’s stock valued at $3,720,000 after purchasing an additional 18,225 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in CarGurus during the 1st quarter valued at $296,000. Federated Hermes Inc. boosted its stake in CarGurus by 26.7% during the 3rd quarter. Federated Hermes Inc. now owns 32,941 shares of the company’s stock valued at $712,000 after purchasing an additional 6,943 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in CarGurus by 247.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 102,150 shares of the company’s stock valued at $2,226,000 after purchasing an additional 72,745 shares during the last quarter. Finally, AXA S.A. purchased a new position in shares of CarGurus in the 3rd quarter worth $257,000. Institutional investors and hedge funds own 79.44% of the company’s stock.
CARG has been the topic of a number of research reports. DA Davidson downgraded CarGurus from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $35.00 to $33.00 in a research note on Friday, February 12th. Raymond James upgraded CarGurus from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Thursday. Benchmark raised their price target on CarGurus from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, February 12th. Zacks Investment Research downgraded CarGurus from a “hold” rating to a “sell” rating in a research note on Wednesday, February 17th. Finally, BTIG Research raised their price target on CarGurus from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, December 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $31.92.
NASDAQ:CARG opened at $25.00 on Friday. The business’s 50-day simple moving average is $25.51 and its two-hundred day simple moving average is $26.65. The stock has a market cap of $2.92 billion, a PE ratio of 43.10, a P/E/G ratio of 1.65 and a beta of 1.99. CarGurus, Inc. has a 52 week low of $17.88 and a 52 week high of $36.54.
CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Wednesday, February 10th. The company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.13. The business had revenue of $151.55 million for the quarter, compared to analysts’ expectations of $148.63 million. CarGurus had a return on equity of 24.71% and a net margin of 11.75%. As a group, research analysts forecast that CarGurus, Inc. will post 0.65 EPS for the current year.
In other news, COO Samuel Zales sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $32.66, for a total transaction of $261,280.00. Following the completion of the transaction, the chief operating officer now owns 240,365 shares in the company, valued at $7,850,320.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Thomas Michael Caputo sold 4,691 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $25.25, for a total value of $118,447.75. Following the transaction, the insider now owns 206,243 shares of the company’s stock, valued at approximately $5,207,635.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,382 shares of company stock worth $498,176. Insiders own 24.43% of the company’s stock.
About CarGurus
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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