Intech Investment Management LLC Purchases 22,410 Shares of CarGurus, Inc. (NASDAQ:CARG)

Intech Investment Management LLC grew its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 100.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 44,821 shares of the company's stock after purchasing an additional 22,410 shares during the quarter. Intech Investment Management LLC's holdings in CarGurus were worth $1,638,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in 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 buying an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its position in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the third quarter worth $28,000. Principal Securities Inc. increased its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new position in CarGurus during the 4th quarter valued at $35,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares in the company, valued at $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. Over the last 90 days, insiders sold 61,888 shares of company stock worth $2,229,388. Insiders own 17.20% of the company's stock.

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CarGurus Stock Down 1.3 %

NASDAQ:CARG traded down $0.42 during trading hours on Wednesday, reaching $31.33. The company had a trading volume of 878,075 shares, compared to its average volume of 785,240. The stock has a 50-day moving average of $35.41 and a two-hundred day moving average of $34.31. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The firm has a market capitalization of $3.27 billion, a PE ratio of 174.07, a PEG ratio of 1.72 and a beta of 1.52.

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. JMP Securities reiterated a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, Oppenheimer decreased their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CarGurus currently has an average rating of "Buy" and an average price target of $39.55.

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.