CarGurus, Inc. (NASDAQ:CARG) Stake Lifted by US Bancorp DE

US Bancorp DE increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 246.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,258 shares of the company’s stock after buying an additional 2,318 shares during the quarter. US Bancorp DE’s holdings in CarGurus were worth $119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CARG. Allspring Global Investments Holdings LLC grew its stake in shares of CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after purchasing an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of CarGurus by 36.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock worth $3,210,000 after purchasing an additional 23,445 shares in the last quarter. State Street Corp grew its stake in shares of CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares in the last quarter. Finally, Alpha DNA Investment Management LLC bought a new position in shares of CarGurus in the third quarter worth $503,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CARG. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer decreased their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, CarGurus has a consensus rating of “Buy” and an average target price of $39.55.

CarGurus Stock Up 2.1 %

Shares of NASDAQ CARG opened at $30.78 on Monday. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 171.01, a P/E/G ratio of 1.72 and a beta of 1.52. The business has a fifty day simple moving average of $36.23 and a 200-day simple moving average of $34.20.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. As a group, sell-side analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Activity

In other news, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares of the company’s stock, valued at $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the sale, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,888 shares of company stock valued at $1,921,588 over the last three months. 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.