Prudential Financial Inc. Sells 1,330 Shares of CarGurus, Inc. (NASDAQ:CARG)

Prudential Financial Inc. trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 88,512 shares of the company’s stock after selling 1,330 shares during the period. Prudential Financial Inc. owned approximately 0.09% of CarGurus worth $3,234,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC boosted its holdings in shares of CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% in the 4th 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 last quarter. Principal Securities Inc. raised its holdings in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of CarGurus during the 4th quarter worth $35,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CARG has been the topic of a number of recent analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Oppenheimer lowered their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and cut their target price for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.75.

CarGurus Stock Up 0.9 %

NASDAQ CARG opened at $29.51 on Thursday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 163.95, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The stock has a fifty day simple moving average of $34.41 and a 200 day simple moving average of $34.35.

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

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now owns 115,983 shares in the company, valued at $4,421,271.96. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,031 shares of company stock valued at $1,868,424. 17.20% of the stock is currently owned by insiders.

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.