Amundi Acquires 67,816 Shares of CarGurus, Inc. (NASDAQ:CARG)

Amundi lifted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 440.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,197 shares of the company's stock after acquiring an additional 67,816 shares during the period. Amundi owned about 0.08% of CarGurus worth $3,087,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in CarGurus by 16.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company's stock valued at $8,748,000 after acquiring an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in CarGurus by 36.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company's stock valued at $3,210,000 after buying an additional 23,445 shares during the period. State Street Corp increased its stake in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after buying an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. lifted its position in CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company's stock worth $31,328,000 after buying an additional 89,815 shares in the last quarter. Finally, Alpha DNA Investment Management LLC acquired a new stake in shares of CarGurus during the 3rd quarter valued at $503,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. Finally, Oppenheimer cut their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $39.55.

CarGurus Stock Performance

Shares of CARG traded down $0.04 during trading hours on Thursday, reaching $29.87. 1,611,233 shares of the company traded hands, compared to its average volume of 778,296. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The stock has a market cap of $3.12 billion, a P/E ratio of 165.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The stock's fifty day moving average is $35.98 and its 200 day moving average is $34.22.

CarGurus (NASDAQ:CARG - Get Free Report) last announced 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 firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, equities research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Matthew Todd Quinn sold 4,678 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the transaction, the chief technology officer now directly owns 195,795 shares of the company's stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock valued at $2,229,388 over the last ninety days. 17.20% of the stock is owned by company insiders.

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.