Dana Investment Advisors Inc. Decreases Holdings in CarGurus, Inc. (NASDAQ:CARG)

Dana Investment Advisors Inc. reduced its position in CarGurus, Inc. (NASDAQ:CARG) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 280,033 shares of the company’s stock after selling 3,833 shares during the period. Dana Investment Advisors Inc. owned approximately 0.27% of CarGurus worth $7,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CARG. Wellington Management Group LLP increased its holdings in CarGurus by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after buying an additional 1,619,076 shares during the last quarter. Norges Bank purchased a new position in CarGurus during the fourth quarter valued at $17,042,000. Marshall Wace LLP grew its holdings in CarGurus by 3,512.4% during the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock valued at $12,585,000 after purchasing an additional 467,042 shares during the period. Fort Washington Investment Advisors Inc. OH increased its position in CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after buying an additional 228,380 shares in the last quarter. Finally, SG Capital Management LLC bought a new position in shares of CarGurus in the first quarter worth about $4,222,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CARG shares. JPMorgan Chase & Co. boosted their price objective on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. Citigroup raised their price objective on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. Royal Bank of Canada upped their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. JMP Securities reissued a “market outperform” rating and set a $32.00 price target on shares of CarGurus in a report on Monday, September 9th. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $26.50 price objective on shares of CarGurus in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and an average target price of $29.35.

CarGurus Trading Down 1.3 %

Shares of CARG stock opened at $29.65 on Wednesday. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 105.89, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $30.99. The stock’s 50-day moving average price is $27.44 and its 200-day moving average price is $25.22.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The business 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, research analysts predict that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the sale, the chief operating officer now directly owns 480,583 shares in the company, valued at approximately $13,619,722.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the sale, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. 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 business’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 transaction, the chief marketing officer now directly owns 128,952 shares in the company, valued at approximately $3,664,815.84. The disclosure for this sale can be found here. Insiders sold 53,443 shares of company stock worth $1,468,262 over the last 90 days. 17.20% of the stock is owned by insiders.

CarGurus 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.