Strs Ohio Trims Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Strs Ohio lowered its stake in CarGurus, Inc. (NASDAQ:CARG) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,500 shares of the company’s stock after selling 6,200 shares during the period. Strs Ohio’s holdings in CarGurus were worth $1,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of CarGurus by 6.9% in the third quarter. The Manufacturers Life Insurance Company now owns 2,825,275 shares of the company’s stock valued at $49,499,000 after purchasing an additional 182,028 shares during the period. Pacer Advisors Inc. increased its holdings 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 valued at $48,164,000 after purchasing an additional 336,245 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of CarGurus by 6.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 875,845 shares of the company’s stock valued at $15,345,000 after purchasing an additional 56,502 shares during the period. Fort Washington Investment Advisors Inc. OH grew its holdings 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 acquiring an additional 143,210 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in CarGurus by 1.0% during the third quarter. Glenmede Trust Co. NA now owns 725,442 shares of the company’s stock worth $12,710,000 after acquiring an additional 6,963 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In other news, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the sale, the chief marketing officer now directly owns 163,798 shares in the company, valued at $3,773,905.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Andrea Lee Eldridge sold 22,358 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $494,782.54. Following the transaction, the insider now directly owns 117,432 shares in the company, valued at $2,598,770.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares in the company, valued at $3,773,905.92. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock worth $2,523,342 over the last three months. 15.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Needham & Company LLC upped their price objective on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. UBS Group upped their price objective on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Oppenheimer upped their price objective on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Finally, JMP Securities reissued a “market perform” rating on shares of CarGurus in a report on Wednesday, April 17th. Four 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 currently has an average rating of “Moderate Buy” and a consensus target price of $24.90.

CarGurus Stock Performance

CarGurus stock opened at $23.47 on Wednesday. The firm has a market capitalization of $2.52 billion, a price-to-earnings ratio of 130.28, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. CarGurus, Inc. has a fifty-two week low of $15.34 and a fifty-two week high of $24.64. The stock’s fifty day moving average is $22.85 and its two-hundred day moving average is $21.88.

CarGurus (NASDAQ:CARG) last issued 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. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. During the same period in the prior year, the business earned $0.25 earnings per share. The business’s revenue was down 22.2% on a year-over-year basis. As a group, sell-side analysts forecast that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

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.