Charles Schwab Investment Management Inc. Purchases 30,593 Shares of CarGurus, Inc. (NASDAQ:CARG)

Charles Schwab Investment Management Inc. lifted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,073,810 shares of the company's stock after acquiring an additional 30,593 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.04% of CarGurus worth $39,237,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Loomis Sayles & Co. L P purchased a new position in shares of CarGurus in the 3rd quarter worth about $21,052,000. State Street Corp increased its position in CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Barclays PLC raised its stake in shares of CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after buying an additional 121,341 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of CarGurus during the 4th quarter valued at $3,852,000. Finally, Prevatt Capital Ltd grew its stake in CarGurus by 7.0% in the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company's stock valued at $36,937,000 after buying an additional 80,000 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Performance

Shares of CarGurus stock traded up $0.18 during midday trading on Wednesday, reaching $30.11. 1,322,594 shares of the company's stock traded hands, compared to its average volume of 774,216. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The company has a market cap of $3.14 billion, a PE ratio of 167.19, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The stock has a 50 day moving average of $35.98 and a 200-day moving average of $34.22.

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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 return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent analyst reports. JMP Securities reissued a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $39.55.

Insider Activity at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company's stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Matthew Todd Quinn sold 4,678 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $167,378.84. Following the transaction, the chief technology officer now directly owns 195,795 shares of the company's stock, valued at $7,005,545.10. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock worth $2,229,388 over the last ninety days. 17.20% of the stock is owned by corporate insiders.

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.