Amundi Buys 67,816 Shares of CarGurus, Inc. (NASDAQ:CARG)

Amundi lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 440.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 83,197 shares of the company’s stock after purchasing an additional 67,816 shares during the quarter. Amundi owned 0.08% of CarGurus worth $3,087,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CARG. Global Retirement Partners LLC grew its position 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 buying an additional 532 shares in the last quarter. Fifth Third Bancorp grew its position in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in CarGurus during the third quarter worth about $28,000. Principal Securities Inc. grew its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in CarGurus during the fourth quarter worth about $35,000. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $15,344,959. This represents a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,888 shares of company stock valued at $1,921,588 in the last 90 days. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

CarGurus Trading Up 2.1 %

NASDAQ CARG opened at $30.78 on Monday. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The stock has a 50-day moving average of $36.23 and a 200-day moving average of $34.20. The firm has a market cap of $3.21 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $231.72 million. As a group, equities research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

CarGurus 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.