Swiss National Bank Sells 21,900 Shares of CarGurus, Inc. (NASDAQ:CARG)

Swiss National Bank trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 188,900 shares of the company’s stock after selling 21,900 shares during the quarter. Swiss National Bank owned approximately 0.16% of CarGurus worth $3,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its stake in CarGurus by 943.6% during the first quarter. Nisa Investment Advisors LLC now owns 2,035 shares of the company’s stock worth $38,000 after buying an additional 1,840 shares during the last quarter. Penserra Capital Management LLC bought a new stake in shares of CarGurus during the first quarter valued at approximately $117,000. Sawtooth Solutions LLC bought a new stake in shares of CarGurus during the first quarter valued at approximately $226,000. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the first quarter valued at approximately $236,000. Finally, Point72 Middle East FZE bought a new stake in shares of CarGurus during the fourth quarter valued at approximately $101,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Performance

CARG opened at $18.47 on Friday. The firm’s fifty day moving average is $20.77 and its two-hundred day moving average is $19.14. The firm has a market cap of $2.10 billion, a PE ratio of 32.98, a price-to-earnings-growth ratio of 1.77 and a beta of 1.62. CarGurus, Inc. has a twelve month low of $9.14 and a twelve month high of $24.22.

CarGurus (NASDAQ:CARG) last posted its earnings results on Wednesday, August 9th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $239.74 million for the quarter, compared to analyst estimates of $229.97 million. CarGurus had a net margin of 25.21% and a return on equity of 17.12%. Equities analysts forecast that CarGurus, Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the topic of several research analyst reports. Oppenheimer increased their price target on shares of CarGurus from $21.00 to $24.00 in a research note on Friday, May 12th. Piper Sandler increased their price target on shares of CarGurus from $12.00 to $15.00 in a research note on Wednesday, July 5th. Jefferies Financial Group increased their price target on shares of CarGurus from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, July 25th. B. Riley started coverage on shares of CarGurus in a research note on Wednesday, July 19th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Citigroup increased their price objective on shares of CarGurus from $18.00 to $24.00 and gave the company a “neutral” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.17.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car to dealers and other consumers.