CarGurus, Inc. (NASDAQ:CARG) Stock Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 16.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,828 shares of the company's stock after purchasing an additional 34,555 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.24% of CarGurus worth $8,748,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CARG. State Street Corp lifted its position in CarGurus by 4.8% during the third 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company's stock valued at $61,728,000 after acquiring an additional 74,730 shares during the period. Prevatt Capital Ltd lifted its holdings in shares of CarGurus by 7.0% during the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company's stock valued at $36,937,000 after acquiring an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in CarGurus by 9.4% during the 3rd 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 during the period. Finally, Loomis Sayles & Co. L P acquired a new stake in CarGurus in the 3rd quarter valued at $21,052,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 7,500 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the completion of the transaction, the chief operating officer now owns 434,821 shares in the company, valued at $16,392,751.70. This represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $378,194.60. Following the sale, the chief marketing officer now owns 95,261 shares in the company, valued at $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,388 shares of company stock worth $2,204,338. 17.20% of the stock is owned by company insiders.

CarGurus Stock Down 1.4 %

Shares of NASDAQ:CARG traded down $0.55 during trading on Thursday, hitting $37.59. 1,468,952 shares of the company traded hands, compared to its average volume of 758,986. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -81.72, a PEG ratio of 1.82 and a beta of 1.59. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The business's fifty day moving average is $37.94 and its 200-day moving average is $33.60.

CarGurus (NASDAQ:CARG - Get Free Report) 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). CarGurus had a positive return on equity of 13.96% and a negative net margin of 5.47%. On average, analysts forecast that CarGurus, Inc. will post 1.25 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CARG. Needham & Company LLC boosted their price objective on CarGurus from $39.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. boosted their price target on CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Royal Bank of Canada boosted their target price on shares of CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a research report on Monday, November 11th. Finally, Oppenheimer upped their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $38.41.

CarGurus 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.