SG Americas Securities LLC Takes Position in CarGurus, Inc. (NASDAQ:CARG)

SG Americas Securities LLC bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 7,025 shares of the company’s stock, valued at approximately $211,000.

Several other institutional investors have also made changes to their positions in CARG. PNC Financial Services Group Inc. boosted its position in shares of CarGurus by 87.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock valued at $133,000 after acquiring an additional 2,568 shares in the last quarter. Scharf Investments LLC acquired a new position in CarGurus in the first quarter valued at about $203,000. Allspring Global Investments Holdings LLC boosted its position in CarGurus by 0.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 295,634 shares of the company’s stock valued at $6,823,000 after buying an additional 1,904 shares in the last quarter. BNP Paribas Financial Markets boosted its position in CarGurus by 18.6% in the first quarter. BNP Paribas Financial Markets now owns 95,304 shares of the company’s stock valued at $2,200,000 after buying an additional 14,961 shares in the last quarter. Finally, Capstone Investment Advisors LLC acquired a new position in CarGurus in the first quarter valued at about $1,315,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Price Performance

CARG opened at $32.04 on Wednesday. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 114.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.56. The firm has a 50 day simple moving average of $29.32 and a 200 day simple moving average of $26.07. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $32.36.

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

Analysts Set New Price Targets

CARG has been the topic of a number of recent analyst reports. BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday. B. Riley boosted their price target on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a research note on Monday, September 9th. Finally, Oppenheimer boosted their target price on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $30.59.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CMO Dafna Sarnoff sold 3,107 shares of CarGurus stock in a transaction that occurred 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 sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $28.34, for a total transaction of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,065 shares of company stock valued at $1,823,794. Corporate 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.