Louisiana State Employees Retirement System Invests $1.04 Million in CarGurus, Inc. (NASDAQ:CARG)

Louisiana State Employees Retirement System purchased a new position in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 42,900 shares of the company’s stock, valued at approximately $1,036,000.

A number of other institutional investors have also recently made changes to their positions in CARG. Pacer Advisors Inc. boosted its stake in shares of CarGurus by 20.3% in the fourth quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock worth $48,164,000 after acquiring an additional 336,245 shares during the last quarter. Smith Graham & Co. Investment Advisors LP acquired a new position in CarGurus during the third quarter worth $5,015,000. Allspring Global Investments Holdings LLC boosted its stake in CarGurus by 207.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 293,730 shares of the company’s stock worth $7,097,000 after buying an additional 198,321 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in CarGurus by 6.9% during the third quarter. The Manufacturers Life Insurance Company now owns 2,825,275 shares of the company’s stock worth $49,499,000 after buying an additional 182,028 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in CarGurus by 20.0% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 860,455 shares of the company’s stock worth $15,075,000 after buying an additional 143,210 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. Oppenheimer boosted their price objective on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Needham & Company LLC boosted their price objective on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, UBS Group upped their price target on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.90.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $521,316.41. Following the sale, the general counsel now owns 111,589 shares in the company, valued at approximately $2,469,464.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 23,557 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $521,316.41. Following the sale, the general counsel now owns 111,589 shares in the company, valued at approximately $2,469,464.57. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Andrea Lee Eldridge sold 22,358 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the sale, the insider now owns 117,432 shares in the company, valued at approximately $2,598,770.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is currently owned by company insiders.

CarGurus Trading Down 0.6 %

CARG stock opened at $23.34 on Thursday. The company has a market capitalization of $2.51 billion, a PE ratio of 129.67, a P/E/G ratio of 1.38 and a beta of 1.58. CarGurus, Inc. has a 12-month low of $15.34 and a 12-month high of $24.64. The business’s fifty day moving average price is $22.87 and its 200 day moving average price is $21.92.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 EPS. Research analysts predict that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

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.