Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,638 Shares of CarGurus, Inc. (NASDAQ:CARG)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 46.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,222 shares of the company's stock after buying an additional 8,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in CarGurus were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in CARG. Loomis Sayles & Co. L P purchased a new stake in CarGurus during the 3rd quarter valued at $21,052,000. Raymond James Financial Inc. purchased a new stake in CarGurus during the 4th quarter valued at $19,465,000. State Street Corp boosted its stake in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Barclays PLC boosted its stake in CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after purchasing an additional 121,341 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new stake in CarGurus during the 4th quarter valued at $3,852,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares of the company's stock, valued at $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares in the company, valued at $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 61,888 shares of company stock valued at $2,229,388 over the last ninety days. 17.20% of the stock is currently owned by company insiders.

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CarGurus Trading Up 0.8 %

CarGurus stock traded up $0.24 during trading on Friday, reaching $30.11. The company had a trading volume of 2,002,591 shares, compared to its average volume of 782,208. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The firm's 50-day simple moving average is $35.58 and its 200 day simple moving average is $34.21. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG - Get Free Report) last announced 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 the consensus estimate of $231.72 million. On average, analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CARG shares. JPMorgan Chase & Co. raised their price target on CarGurus from $40.00 to $42.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Needham & Company LLC restated a "buy" rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. JMP Securities restated a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Finally, Oppenheimer dropped their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $39.55.

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.