Acadian Asset Management LLC Purchases Shares of 20,366 CarGurus, Inc. (NASDAQ:CARG)

Acadian Asset Management LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,366 shares of the company’s stock, valued at approximately $532,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of CarGurus by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,731 shares of the company’s stock worth $22,342,000 after purchasing an additional 48,886 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of CarGurus by 6.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,208,420 shares of the company’s stock valued at $53,357,000 after buying an additional 126,216 shares in the last quarter. Norges Bank acquired a new position in shares of CarGurus during the fourth quarter valued at about $17,042,000. Allianz Asset Management GmbH increased its position in shares of CarGurus by 68.4% during the fourth quarter. Allianz Asset Management GmbH now owns 160,000 shares of the company’s stock worth $3,866,000 after acquiring an additional 65,000 shares in the last quarter. Finally, TFO Wealth Partners LLC raised its holdings in shares of CarGurus by 54,837.5% in the 4th quarter. TFO Wealth Partners LLC now owns 8,790 shares of the company’s stock worth $212,000 after acquiring an additional 8,774 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 3,107 shares of CarGurus stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,978 shares of the business’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total transaction of $99,091.98. Following the transaction, the chief technology officer now owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The disclosure for this sale can be found here. Insiders have sold a total of 57,421 shares of company stock worth $1,567,354 over the last 90 days. Corporate insiders own 17.20% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $30.00 on Thursday. The stock has a market capitalization of $3.13 billion, a PE ratio of 107.14, a P/E/G ratio of 1.33 and a beta of 1.56. CarGurus, Inc. has a one year low of $16.70 and a one year high of $30.71. The business’s fifty day moving average price is $26.80 and its 200-day moving average price is $24.80.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. As a group, equities analysts expect that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Needham & Company LLC boosted their price objective on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Citigroup upped their price target on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Royal Bank of Canada boosted their price target on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Finally, JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a research note on Monday, September 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $29.35.

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.