US Bancorp DE Has $109,000 Stock Position in CarGurus, Inc. $CARG

US Bancorp DE increased its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 14.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,733 shares of the company’s stock after buying an additional 475 shares during the quarter. US Bancorp DE’s holdings in CarGurus were worth $109,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bayforest Capital Ltd purchased a new stake in shares of CarGurus in the first quarter worth approximately $76,000. XTX Topco Ltd raised its stake in shares of CarGurus by 48.9% in the first quarter. XTX Topco Ltd now owns 33,831 shares of the company’s stock worth $985,000 after purchasing an additional 11,116 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of CarGurus by 8.6% in the first quarter. Federated Hermes Inc. now owns 410,204 shares of the company’s stock worth $11,949,000 after purchasing an additional 32,640 shares during the last quarter. LPL Financial LLC raised its stake in shares of CarGurus by 5.7% in the first quarter. LPL Financial LLC now owns 49,826 shares of the company’s stock worth $1,451,000 after purchasing an additional 2,681 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CarGurus by 13.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,770 shares of the company’s stock worth $896,000 after purchasing an additional 3,548 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $33.88, for a total value of $338,800.00. Following the sale, the chief operating officer owned 461,821 shares in the company, valued at approximately $15,646,495.48. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the sale, the general counsel owned 92,807 shares in the company, valued at $3,248,245. This trade represents a 6.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,049 shares of company stock valued at $1,616,397 in the last ninety days. 17.20% of the stock is owned by insiders.

CarGurus Trading Up 2.0%

Shares of NASDAQ CARG opened at $32.39 on Monday. The stock has a fifty day simple moving average of $32.69 and a two-hundred day simple moving average of $31.83. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%. The firm had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. During the same period last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on CARG shares. JMP Securities reissued a “market perform” rating and issued a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Oppenheimer decreased their price target on CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. UBS Group set a $36.00 price target on CarGurus and gave the company a “neutral” rating in a research report on Friday, August 8th. Finally, Gordon Haskett assumed coverage on CarGurus in a research report on Monday, July 14th. They set a “hold” rating and a $35.00 price target for the company. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $38.13.

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.