Raymond James & Associates Sells 42,208 Shares of CarGurus, Inc. (NASDAQ:CARG)

Raymond James & Associates cut its holdings in CarGurus, Inc. (NASDAQ:CARG) by 7.9% during the third quarter, Holdings Channel.com reports. The fund owned 492,731 shares of the company’s stock after selling 42,208 shares during the period. Raymond James & Associates’ holdings in CarGurus were worth $14,797,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of CarGurus by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after buying an additional 107,244 shares during the period. Thrivent Financial for Lutherans boosted its stake in CarGurus by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company’s stock worth $38,282,000 after acquiring an additional 89,346 shares during the last quarter. Select Equity Group L.P. grew its holdings in CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company’s stock valued at $30,017,000 after purchasing an additional 31,431 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in CarGurus by 26.5% in the second quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock valued at $28,567,000 after purchasing an additional 228,380 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in CarGurus by 3,512.4% in the second quarter. Marshall Wace LLP now owns 480,339 shares of the company’s stock worth $12,585,000 after purchasing an additional 467,042 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Down 1.9 %

NASDAQ:CARG opened at $31.53 on Friday. The company has a market cap of $3.29 billion, a P/E ratio of 112.61, a price-to-earnings-growth ratio of 1.48 and a beta of 1.56. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $32.36. The business has a 50 day moving average price of $29.54 and a two-hundred day moving average price of $26.22.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The business had revenue of $218.69 million for the quarter, compared to analyst estimates of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. As a group, analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group boosted their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC boosted their target price on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada raised their price target on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Oppenheimer boosted their price objective on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a report on Monday, September 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and an average target price of $30.59.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the sale, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock valued at $1,823,794 in the last three months. 17.20% of the stock is currently owned by corporate insiders.

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.