Vanguard Group Inc. Buys 93,722 Shares of CarGurus, Inc. $CARG

Vanguard Group Inc. raised its stake in CarGurus, Inc. (NASDAQ:CARG) by 1.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,780,608 shares of the company’s stock after acquiring an additional 93,722 shares during the period. Vanguard Group Inc. owned about 9.37% of CarGurus worth $284,909,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in CarGurus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company’s stock valued at $14,055,000 after acquiring an additional 10,787 shares during the period. GAMMA Investing LLC grew its position in CarGurus by 35.4% in the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company’s stock valued at $122,000 after acquiring an additional 1,097 shares during the period. Bosman Wealth Management LLC bought a new stake in CarGurus in the first quarter valued at $2,638,000. Jupiter Asset Management Ltd. bought a new stake in CarGurus in the first quarter valued at $468,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in CarGurus by 30.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company’s stock valued at $7,264,000 after acquiring an additional 46,298 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Transactions at CarGurus

In other CarGurus news, insider Ismail Elshareef sold 5,246 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $164,567.02. Following the transaction, the insider owned 107,007 shares of the company’s stock, valued at approximately $3,356,809.59. This represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 12,265 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $384,753.05. Following the completion of the transaction, the general counsel directly owned 102,723 shares in the company, valued at $3,222,420.51. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,049 shares of company stock valued at $1,616,397. Corporate insiders own 17.20% of the company’s stock.

CarGurus Stock Up 2.0%

Shares of CARG opened at $32.39 on Monday. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The firm has a market capitalization of $3.22 billion, a PE ratio of 26.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42. The stock’s fifty day simple moving average is $32.69 and its 200-day simple moving average is $31.83.

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

Analysts Set New Price Targets

CARG has been the topic of several research analyst reports. Oppenheimer decreased their target price on CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Needham & Company LLC increased their target price on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Gordon Haskett initiated coverage on CarGurus in a report on Monday, July 14th. They set a “hold” rating and a $35.00 target price on the stock. JMP Securities restated a “market perform” rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, CarGurus has a consensus rating of “Hold” and an average 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.