Loomis Sayles & Co. L P Has $34.60 Million Holdings in CarGurus, Inc. (NASDAQ:CARG)

Loomis Sayles & Co. L P boosted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 35.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 946,974 shares of the company's stock after purchasing an additional 245,919 shares during the quarter. Loomis Sayles & Co. L P owned about 0.91% of CarGurus worth $34,603,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARG. Raymond James Financial Inc. acquired a new position in shares of CarGurus during the fourth quarter worth approximately $19,465,000. Vanguard Group Inc. raised its stake in CarGurus by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock valued at $353,959,000 after purchasing an additional 225,430 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in CarGurus by 48.7% in the 4th quarter. JPMorgan Chase & Co. now owns 600,530 shares of the company's stock valued at $21,943,000 after purchasing an additional 196,697 shares during the period. State Street Corp grew its position in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company's stock worth $5,089,000 after purchasing an additional 121,341 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Remove Ads

CarGurus Price Performance

Shares of CARG stock traded up $0.19 during trading hours on Tuesday, reaching $29.32. The company had a trading volume of 196,077 shares, compared to its average volume of 817,289. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 162.29, a P/E/G ratio of 1.72 and a beta of 1.52. The company has a 50 day moving average of $34.78 and a 200 day moving average of $34.38.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its 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). The company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. JMP Securities restated a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC restated a "buy" rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. Finally, 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. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, CarGurus has an average rating of "Moderate Buy" and an average target price of $38.75.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $167,378.84. Following the transaction, the chief technology officer now owns 195,795 shares of the company's stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 9,857 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34. Following the sale, the chief operating officer now directly owns 434,821 shares of the company's stock, valued at $15,923,145.02. This represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,888 shares of company stock valued at $2,229,388. Corporate insiders own 17.20% of the company's stock.

CarGurus Company 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.