CarGurus, Inc. (NASDAQ:CARG) Stock Holdings Lessened by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp decreased its position in CarGurus, Inc. (NASDAQ:CARG) by 14.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,128 shares of the company’s stock after selling 10,858 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.06% of CarGurus worth $1,680,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Prevatt Capital Ltd acquired a new stake in shares of CarGurus in the 4th quarter valued at $24,160,000. Pale Fire Capital SE bought a new stake in shares of CarGurus in the 4th quarter valued at about $1,800,000. UniSuper Management Pty Ltd acquired a new stake in shares of CarGurus during the first quarter worth about $483,000. Capstone Investment Advisors LLC bought a new position in CarGurus in the first quarter valued at approximately $1,315,000. Finally, Jennison Associates LLC acquired a new position in CarGurus in the 1st quarter worth $707,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CARG. B. Riley increased their price objective on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. DA Davidson reissued a “neutral” rating and issued a $26.50 price target on shares of CarGurus in a report on Tuesday, September 10th. Needham & Company LLC lifted their target price on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, Citigroup increased their price target on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $29.35.

CarGurus Stock Performance

CARG stock opened at $30.00 on Thursday. The company has a market capitalization of $3.13 billion, a P/E ratio of 107.14, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56. CarGurus, Inc. has a 52-week low of $16.70 and a 52-week high of $30.71. The business has a 50-day simple moving average of $26.80 and a two-hundred day simple moving average of $24.80.

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

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,978 shares of CarGurus stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the transaction, the chief technology officer now directly owns 217,374 shares in the company, valued at $5,414,786.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the transaction, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total value of $666,700.32. Following the sale, the chief operating officer now owns 488,083 shares in the company, valued at $12,929,318.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,421 shares of company stock valued at $1,567,354. Company 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.