Vanguard Group Inc. Boosts Holdings in CarGurus, Inc. (NASDAQ:CARG)

Vanguard Group Inc. increased its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 9,686,886 shares of the company's stock after buying an additional 225,430 shares during the quarter. Vanguard Group Inc. owned about 9.34% of CarGurus worth $353,959,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company's stock valued at $8,748,000 after purchasing an additional 34,555 shares during the period. Los Angeles Capital Management LLC increased its position in shares of CarGurus by 36.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company's stock worth $3,210,000 after purchasing an additional 23,445 shares during the last quarter. State Street Corp raised its holdings in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after buying an additional 151,862 shares during the period. Summit Global Investments acquired a new position in CarGurus in the fourth quarter valued at about $1,150,000. Finally, Friedenthal Financial purchased a new position in CarGurus during the fourth quarter worth about $767,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Price Performance

Shares of NASDAQ CARG traded down $0.57 during mid-day trading on Tuesday, hitting $25.19. The company had a trading volume of 1,976,937 shares, compared to its average volume of 843,103. The company has a market capitalization of $2.63 billion, a PE ratio of 139.95, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46. The business's 50-day simple moving average is $33.04 and its 200 day simple moving average is $34.21. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33.

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CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) 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 company had revenue of $228.54 million during the quarter, compared to analysts' expectations of $231.72 million. On average, analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CARG shares. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.75.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,203 shares of company stock worth $1,158,978 in the last 90 days. Corporate insiders own 17.20% of the company's stock.

About CarGurus

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.