Cars.com Inc. (NYSE:CARS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in shares of Cars.com Inc. (NYSE:CARS) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 286,660 shares of the company’s stock after selling 17,077 shares during the period. Principal Financial Group Inc. owned 0.44% of Cars.com worth $4,804,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Cars.com by 3.6% during the second quarter. Bank of New York Mellon Corp now owns 596,327 shares of the company’s stock worth $11,748,000 after purchasing an additional 20,463 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Cars.com by 9,934.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 10,737 shares of the company’s stock valued at $212,000 after buying an additional 10,630 shares during the last quarter. Natixis Advisors LLC purchased a new position in shares of Cars.com in the second quarter worth about $242,000. Rhumbline Advisers boosted its position in Cars.com by 6.6% during the second quarter. Rhumbline Advisers now owns 191,507 shares of the company’s stock worth $3,773,000 after acquiring an additional 11,900 shares during the last quarter. Finally, TD Asset Management Inc grew its stake in Cars.com by 8.7% during the 2nd quarter. TD Asset Management Inc now owns 19,900 shares of the company’s stock valued at $392,000 after acquiring an additional 1,600 shares in the last quarter. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cars.com

In other Cars.com news, CFO Sonia Jain sold 24,971 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total transaction of $492,927.54. Following the sale, the chief financial officer now directly owns 229,229 shares in the company, valued at $4,524,980.46. This represents a 9.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jill A. Greenthal sold 4,524 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total value of $89,846.64. Following the completion of the sale, the director now owns 101,963 shares in the company, valued at approximately $2,024,985.18. The trade was a 4.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.12% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CARS shares. Barrington Research restated an “outperform” rating and set a $25.00 target price on shares of Cars.com in a report on Wednesday, November 13th. JPMorgan Chase & Co. upped their target price on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, UBS Group lifted their price target on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Friday, November 8th.

Cars.com Stock Down 2.8 %

Shares of CARS opened at $16.84 on Friday. The company’s 50-day moving average price is $18.13 and its 200 day moving average price is $17.99. The firm has a market cap of $1.09 billion, a P/E ratio of 29.03 and a beta of 2.12. Cars.com Inc. has a 12-month low of $15.05 and a 12-month high of $21.24. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.