New York State Common Retirement Fund Increases Stock Position in CarGurus, Inc. (NASDAQ:CARG)

New York State Common Retirement Fund increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,035 shares of the company’s stock after acquiring an additional 4,386 shares during the quarter. New York State Common Retirement Fund’s holdings in CarGurus were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Fifth Third Bancorp increased its stake in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the period. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus during the third quarter worth about $28,000. Principal Securities Inc. grew its holdings in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the last quarter. USA Financial Formulas acquired a new position in CarGurus in the 4th quarter valued at about $35,000. Finally, Quarry LP raised its stake in CarGurus by 155.8% during the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CARG shares. DA Davidson lifted their target price on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley lifted their price objective on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada raised their target price on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

CarGurus Trading Down 1.0 %

CARG stock opened at $31.88 on Tuesday. The company’s 50-day moving average price is $37.25 and its 200 day moving average price is $33.99. The company has a market cap of $3.31 billion, a P/E ratio of 177.12, a P/E/G ratio of 1.72 and a beta of 1.59. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the sale, the chief executive officer now directly owns 115,983 shares in the company, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,388 shares of company stock valued at $2,204,338 over the last quarter. Company 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.