Teacher Retirement System of Texas Buys 108,778 Shares of CarGurus, Inc. (NASDAQ:CARG)

Teacher Retirement System of Texas raised its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 546.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 128,691 shares of the company's stock after buying an additional 108,778 shares during the period. Teacher Retirement System of Texas owned approximately 0.12% of CarGurus worth $4,702,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus during the third quarter valued at $28,000. Global Retirement Partners LLC lifted its stake in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock valued at $29,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after buying an additional 456 shares during the period. Principal Securities Inc. increased its position in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of CarGurus during the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Stock Down 5.1 %

Shares of NASDAQ:CARG traded down $1.61 during trading on Thursday, reaching $29.72. The stock had a trading volume of 2,379,438 shares, compared to its average volume of 792,168. The stock has a fifty day simple moving average of $35.41 and a two-hundred day simple moving average of $34.31. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 165.12, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

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

Insiders Place Their Bets

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of CarGurus stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction 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. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 9,857 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34. Following the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,888 shares of company stock valued at $2,229,388 in the last three months. Company insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

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

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.