CarGurus, Inc. (NASDAQ:CARG) Stake Raised by US Bancorp DE

US Bancorp DE increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 246.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,258 shares of the company’s stock after acquiring an additional 2,318 shares during the period. US Bancorp DE’s holdings in CarGurus were worth $119,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. State Street Corp increased its position in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Geode Capital Management LLC increased its position in CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after purchasing an additional 74,730 shares during the last quarter. Prevatt Capital Ltd increased its position in CarGurus by 7.0% in the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after purchasing an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in CarGurus in the 3rd quarter worth about $21,052,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $30.78 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 171.01, a P/E/G ratio of 1.72 and a beta of 1.52. The business’s 50-day simple moving average is $36.23 and its 200-day simple moving average is $34.20. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business 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%. As a group, equities research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

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 that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at $15,344,959. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,888 shares of company stock valued at $1,921,588 in the last 90 days. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.