Tower Research Capital LLC TRC Sells 2,743 Shares of CarGurus, Inc. (NASDAQ:CARG)

Tower Research Capital LLC TRC trimmed its position in CarGurus, Inc. (NASDAQ:CARG) by 37.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,604 shares of the company’s stock after selling 2,743 shares during the period. Tower Research Capital LLC TRC’s holdings in CarGurus were worth $168,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC increased its holdings in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. raised its holdings in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the last quarter. USA Financial Formulas bought a new position in shares of CarGurus in the fourth quarter valued at $35,000. Finally, GeoWealth Management LLC acquired a new position in shares of CarGurus during the fourth quarter valued at about $49,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $34.00 in a report on Thursday, March 27th. UBS Group decreased their price target on CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. JMP Securities dropped their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. Three research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.14.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. The trade was a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the completion of the transaction, the chief operating officer now directly owns 503,382 shares of the company’s stock, valued at $13,510,772.88. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,824 shares of company stock valued at $907,856. 17.20% of the stock is owned by insiders.

CarGurus Stock Down 0.2 %

CARG opened at $27.95 on Wednesday. The company’s 50-day moving average price is $28.91 and its two-hundred day moving average price is $33.79. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 155.29, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

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.