CarGurus, Inc. (NASDAQ:CARG) Stake Boosted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 6.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,119 shares of the company’s stock after buying an additional 89,346 shares during the quarter. Thrivent Financial for Lutherans owned about 1.40% of CarGurus worth $38,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CWM LLC grew its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares in the last quarter. GAMMA Investing LLC grew its holdings in CarGurus by 25.9% in the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after buying an additional 425 shares in the last quarter. Headlands Technologies LLC bought a new position in CarGurus in the 1st quarter worth approximately $49,000. Finally, nVerses Capital LLC bought a new position in CarGurus in the 2nd quarter worth approximately $102,000. 86.90% of the stock is owned by institutional investors.

Insider Activity

In other news, CMO Dafna Sarnoff sold 3,107 shares of the 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 sale, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares in the company, valued at $12,929,318.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction 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 sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The disclosure for this sale can be found here. Insiders sold 57,421 shares of company stock worth $1,567,354 over the last quarter. Corporate insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $30.35 on Monday. CarGurus, Inc. has a one year low of $16.70 and a one year high of $30.99. The stock has a fifty day moving average of $27.01 and a 200-day moving average of $24.93. The company has a market capitalization of $3.16 billion, a PE ratio of 108.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The company had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. As a group, research analysts forecast that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. B. Riley increased their price objective on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada upped their target price on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. BTIG Research upped their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Citigroup upped their target price on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

About CarGurus

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.