CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,073,810 shares of the company’s stock after acquiring an additional 30,593 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in CarGurus were worth $39,237,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new stake in CarGurus during the 3rd quarter worth about $28,000. Global Retirement Partners LLC lifted its stake in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its holdings in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. increased its stake in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in CarGurus during the 4th quarter worth $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Up 2.1 %

NASDAQ:CARG opened at $30.78 on Friday. The firm has a 50-day moving average price of $36.23 and a two-hundred day moving average price of $34.16. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The company has a market capitalization of $3.21 billion, a P/E ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Transactions at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 10,570 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the sale, the chief marketing officer now directly owns 95,261 shares in the company, valued at $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now owns 400,025 shares in the company, valued at $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock worth $2,204,338 over the last quarter. 17.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have commented on CARG. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $39.55.

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.