CarGurus, Inc. (NASDAQ:CARG) Stock Position Lifted by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,821 shares of the company’s stock after purchasing an additional 22,410 shares during the quarter. Intech Investment Management LLC’s holdings in CarGurus were worth $1,638,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CARG. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the 3rd quarter worth about $28,000. Global Retirement Partners LLC raised its holdings in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp lifted its position in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Principal Securities Inc. boosted its stake in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the company’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares in the company, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,888 shares of company stock worth $2,229,388. 17.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CARG has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer lowered their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $39.55.

CarGurus Stock Performance

CarGurus stock opened at $30.11 on Friday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52. The company has a 50 day moving average price of $35.58 and a 200 day moving average price of $34.17.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $231.72 million. Equities analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal 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.