Franklin Resources Inc. Lowers Position in CarGurus, Inc. (NASDAQ:CARG)

Franklin Resources Inc. lessened its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 243,501 shares of the company's stock after selling 18,389 shares during the quarter. Franklin Resources Inc. owned approximately 0.23% of CarGurus worth $8,898,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CARG. Global Retirement Partners LLC boosted its position in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock valued at $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after acquiring an additional 424 shares during the period. USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter valued at $35,000. Finally, Quarry LP boosted its stake in CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company's stock worth $45,000 after acquiring an additional 913 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Down 0.9 %

CARG stock traded down $0.24 during midday trading on Monday, hitting $26.76. The company had a trading volume of 43,748 shares, compared to its average volume of 852,485. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of 148.65, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The stock's 50 day moving average price is $32.09 and its 200 day moving average price is $34.14.

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CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly 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 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 analysts' expectations of $231.72 million. Analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. JMP Securities cut their price objective on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. UBS Group lowered their price objective on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday. Finally, Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Three equities research 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 MarketBeat, CarGurus has a consensus rating of "Moderate Buy" and a consensus price target of $37.14.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now directly owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last quarter, insiders sold 32,203 shares of company stock valued at $1,158,978. Corporate insiders own 17.20% of the company's stock.

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.