Nomura Holdings Inc. Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Nomura Holdings Inc. bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 17,048 shares of the company’s stock, valued at approximately $412,000.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in CarGurus by 39.6% in the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after purchasing an additional 1,619,076 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in CarGurus by 6.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,825,275 shares of the company’s stock worth $49,499,000 after acquiring an additional 182,028 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in CarGurus by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,208,420 shares of the company’s stock worth $53,357,000 after acquiring an additional 126,216 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of CarGurus by 20.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock valued at $48,164,000 after purchasing an additional 336,245 shares during the last quarter. Finally, Prevatt Capital Ltd purchased a new stake in shares of CarGurus in the 4th quarter valued at approximately $24,160,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Up 0.5 %

Shares of CARG opened at $25.20 on Friday. The company’s 50 day simple moving average is $23.81 and its 200-day simple moving average is $23.39. The firm has a market cap of $2.63 billion, a PE ratio of 90.00, a price-to-earnings-growth ratio of 1.45 and a beta of 1.55. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $26.90.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The company had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. As a group, equities research analysts forecast that CarGurus, Inc. will post 0.98 EPS for the current fiscal year.

Analyst Ratings Changes

CARG has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. UBS Group upped their price objective on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research report on Friday, March 15th. Oppenheimer raised their target price on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. JMP Securities upgraded CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 target price for the company in a research note on Friday, June 7th. Finally, Royal Bank of Canada increased their price target on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $26.13.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $25.00, for a total value of $750,000.00. Following the transaction, the chief operating officer now owns 518,845 shares of the company’s stock, valued at $12,971,125. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, COO Samuel Zales sold 30,000 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $750,000.00. Following the completion of the sale, the chief operating officer now owns 518,845 shares in the company, valued at approximately $12,971,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares in the company, valued at $3,773,905.92. The disclosure for this sale can be found here. Insiders sold a total of 76,317 shares of company stock valued at $1,831,473 in the last ninety days. Insiders own 17.20% of the company’s stock.

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.