JPMorgan Chase & Co. Has $3.96 Million Holdings in Cars.com Inc. (NYSE:CARS)

JPMorgan Chase & Co. cut its holdings in shares of Cars.com Inc. (NYSE:CARS - Free Report) by 16.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 236,023 shares of the company's stock after selling 45,360 shares during the quarter. JPMorgan Chase & Co. owned about 0.36% of Cars.com worth $3,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its holdings in shares of Cars.com by 8.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 14,541 shares of the company's stock worth $244,000 after buying an additional 1,075 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Cars.com by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 31,832 shares of the company's stock valued at $627,000 after acquiring an additional 1,101 shares in the last quarter. CWM LLC boosted its holdings in Cars.com by 62.4% in the third quarter. CWM LLC now owns 3,569 shares of the company's stock valued at $60,000 after purchasing an additional 1,372 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Cars.com by 6.2% in the 3rd quarter. Franklin Resources Inc. now owns 28,963 shares of the company's stock worth $460,000 after buying an additional 1,690 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Cars.com by 145.2% in the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company's stock valued at $53,000 after acquiring an additional 1,864 shares during the period. 89.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Jill A. Greenthal sold 4,524 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the sale, the director now directly owns 101,963 shares of the company's stock, valued at $2,024,985.18. This represents a 4.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sonia Jain sold 24,971 shares of Cars.com stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $19.74, for a total transaction of $492,927.54. Following the completion of the transaction, the chief financial officer now owns 229,229 shares in the company, valued at approximately $4,524,980.46. This trade represents a 9.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.12% of the company's stock.

Wall Street Analysts Forecast Growth

CARS has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Cars.com from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Barrington Research reiterated an "outperform" rating and issued a $25.00 price objective on shares of Cars.com in a research report on Wednesday, November 13th. Finally, UBS Group upped their target price on shares of Cars.com from $17.00 to $20.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th.

Cars.com Price Performance

NYSE:CARS traded down $0.04 during midday trading on Friday, hitting $17.63. 273,909 shares of the stock were exchanged, compared to its average volume of 433,845. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 30.39 and a beta of 2.15. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.93. Cars.com Inc. has a one year low of $15.05 and a one year high of $21.24. The business has a 50-day moving average price of $18.29 and a two-hundred day moving average price of $17.79.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.