New York State Teachers Retirement System Buys 822 Shares of CarGurus, Inc. (NASDAQ:CARG)

New York State Teachers Retirement System grew its holdings in CarGurus, Inc. (NASDAQ:CARG) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,295 shares of the company’s stock after acquiring an additional 822 shares during the quarter. New York State Teachers Retirement System’s holdings in CarGurus were worth $1,090,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its holdings in CarGurus by 8.2% in the third quarter. State of Alaska Department of Revenue now owns 49,874 shares of the company’s stock worth $1,497,000 after acquiring an additional 3,790 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in CarGurus by 6.8% in the third quarter. Louisiana State Employees Retirement System now owns 42,200 shares of the company’s stock worth $1,267,000 after acquiring an additional 2,700 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in CarGurus by 629.3% in the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after acquiring an additional 321,318 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in CarGurus by 5.0% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company’s stock worth $365,000 after acquiring an additional 584 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the completion of the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 4,127 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the transaction, the chief marketing officer now directly owns 119,330 shares in the company, valued at approximately $3,572,740.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,065 shares of company stock worth $1,823,794. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Up 4.3 %

Shares of NASDAQ:CARG opened at $34.81 on Friday. The business has a fifty day moving average of $30.25 and a two-hundred day moving average of $26.91. The stock has a market cap of $3.60 billion, a P/E ratio of -75.67, a PEG ratio of 1.83 and a beta of 1.55. CarGurus, Inc. has a 52-week low of $18.59 and a 52-week high of $37.89.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The company had revenue of $218.69 million during 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%. On average, equities analysts anticipate that CarGurus, Inc. will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

CARG has been the subject of several recent analyst reports. Needham & Company LLC raised their price target on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada raised their price target on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Oppenheimer raised their price objective on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday. JMP Securities restated a “market outperform” rating and issued a $32.00 price objective on shares of CarGurus in a research note on Monday, September 9th. Finally, DA Davidson raised their price objective on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.59.

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.