Daiwa Securities Group Inc. Invests $65,000 in CarGurus, Inc. (NASDAQ:CARG)

Daiwa Securities Group Inc. purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, Holdings Channel.com reports. The fund purchased 2,700 shares of the company’s stock, valued at approximately $65,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in CarGurus in the third quarter valued at approximately $742,000. Exchange Traded Concepts LLC purchased a new position in shares of CarGurus during the 3rd quarter valued at approximately $30,000. Harbor Capital Advisors Inc. grew its stake in CarGurus by 23.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 19,294 shares of the company’s stock valued at $338,000 after acquiring an additional 3,649 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in CarGurus by 667.6% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 110,446 shares of the company’s stock worth $1,935,000 after acquiring an additional 96,057 shares in the last quarter. Finally, Raymond James & Associates raised its position in CarGurus by 5.1% during the third quarter. Raymond James & Associates now owns 403,793 shares of the company’s stock worth $7,074,000 after acquiring an additional 19,636 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of research reports. Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a report on Wednesday, April 17th. Needham & Company LLC lifted their price target on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, UBS Group increased their price objective on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. 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, the stock has an average rating of “Moderate Buy” and an average target price of $24.90.

CarGurus Stock Up 1.4 %

CARG stock opened at $23.22 on Monday. CarGurus, Inc. has a 52-week low of $15.34 and a 52-week high of $24.64. The business has a fifty day moving average of $22.86 and a two-hundred day moving average of $22.04. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 129.00, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58.

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, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The company’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 0.94 EPS for the current year.

Insider Transactions at CarGurus

In related news, CMO Dafna Sarnoff sold 10,573 shares of CarGurus stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $22.56, for a total value of $238,526.88. Following the completion of the sale, the chief marketing officer now owns 168,099 shares in the company, valued at approximately $3,792,313.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Andrea Lee Eldridge sold 22,358 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $494,782.54. Following the completion of the transaction, the insider now owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CMO Dafna Sarnoff sold 10,573 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $22.56, for a total transaction of $238,526.88. Following the sale, the chief marketing officer now directly owns 168,099 shares in the company, valued at $3,792,313.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is currently owned by insiders.

About CarGurus

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.