Dana Investment Advisors Inc. Lowers Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Dana Investment Advisors Inc. reduced its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 5.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 236,839 shares of the company's stock after selling 13,651 shares during the quarter. Dana Investment Advisors Inc. owned 0.23% of CarGurus worth $8,654,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARG. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the third quarter valued at approximately $28,000. Global Retirement Partners LLC grew its position 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 acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp increased its stake in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares during the period. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in shares of CarGurus during the fourth quarter worth $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup upgraded shares of CarGurus from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer lowered their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, Royal Bank of Canada raised their price objective on CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.41.

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Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares of the company's stock, valued at $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the 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 completion of the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock valued at $2,204,338 over the last ninety days. 17.20% of the stock is currently owned by insiders.

CarGurus Price Performance

NASDAQ CARG traded up $0.60 during trading on Friday, hitting $31.65. The company's stock had a trading volume of 1,216,728 shares, compared to its average volume of 1,034,442. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The company has a market cap of $3.30 billion, a PE ratio of 175.84, a P/E/G ratio of 1.72 and a beta of 1.52. The business's 50 day simple moving average is $36.77 and its 200-day simple moving average is $34.03.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results 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 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 analyst estimates of $231.72 million. Analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

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.