CarGurus, Inc. (NASDAQ:CARG) Stock Holdings Increased by Invesco Ltd.

Invesco Ltd. raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 22.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 364,793 shares of the company’s stock after buying an additional 66,176 shares during the period. Invesco Ltd. owned about 0.35% of CarGurus worth $13,330,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CARG. Barclays PLC boosted its holdings in shares of CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after buying an additional 121,341 shares during the period. Franklin Resources Inc. raised its stake in CarGurus by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock valued at $8,150,000 after purchasing an additional 2,051 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock valued at $13,514,000 after purchasing an additional 6,186 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of CarGurus by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock worth $12,127,000 after buying an additional 9,744 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of CarGurus by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock valued at $113,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Down 1.4 %

NASDAQ CARG opened at $26.24 on Tuesday. The company has a market cap of $2.74 billion, a P/E ratio of 145.79, a P/E/G ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33. The company has a fifty day simple moving average of $30.55 and a 200 day simple moving average of $34.02.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. Equities research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Transactions at CarGurus

In other news, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were 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 approximately $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 40,000 shares of company stock worth $1,343,400 over the last three months. 17.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. JMP Securities decreased their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. downgraded shares of CarGurus from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Oppenheimer cut their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Finally, UBS Group lowered their target price on CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.14.

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.