CarGurus, Inc. $CARG Stock Holdings Lessened by Strs Ohio

Strs Ohio reduced its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 96.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,100 shares of the company’s stock after selling 28,300 shares during the quarter. Strs Ohio’s holdings in CarGurus were worth $41,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in CarGurus by 22.6% during the 1st quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock valued at $2,186,000 after purchasing an additional 13,834 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of CarGurus by 25.4% during the 1st quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock worth $756,000 after acquiring an additional 5,259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in CarGurus by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock valued at $1,889,000 after acquiring an additional 1,890 shares during the period. Jane Street Group LLC grew its stake in shares of CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after purchasing an additional 65,420 shares during the period. Finally, QRG Capital Management Inc. grew its position in CarGurus by 4.3% in the second quarter. QRG Capital Management Inc. now owns 8,116 shares of the company’s stock valued at $272,000 after acquiring an additional 332 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CARG. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. DA Davidson set a $37.50 price target on shares of CarGurus in a research report on Monday, November 17th. Zacks Research cut shares of CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Needham & Company LLC lowered their target price on CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a report on Thursday. Finally, Jefferies Financial Group boosted their price objective on shares of CarGurus from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $40.23.

Insider Activity

In other CarGurus news, insider Ismail Elshareef sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.21, for a total value of $52,985.45. Following the completion of the transaction, the insider owned 91,822 shares of the company’s stock, valued at $2,957,586.62. The trade was a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason Trevisan sold 16,548 shares of the company’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total value of $645,702.96. Following the completion of the transaction, the chief executive officer owned 630,483 shares of the company’s stock, valued at $24,601,446.66. The trade was a 2.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 49,003 shares of company stock worth $1,858,494 over the last ninety days. Company insiders own 16.99% of the company’s stock.

CarGurus Trading Down 1.8%

Shares of CARG opened at $28.44 on Friday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.18 and a beta of 1.35. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $40.37. The stock has a 50 day moving average of $36.08 and a 200 day moving average of $35.17.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.CarGurus’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. As a group, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.