Strs Ohio Lowers Position in CarGurus, Inc. (NASDAQ:CARG)

Strs Ohio cut its holdings in CarGurus, Inc. (NASDAQ:CARG) by 13.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,500 shares of the company’s stock after selling 6,200 shares during the quarter. Strs Ohio’s holdings in CarGurus were worth $1,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in CarGurus by 0.8% in the third quarter. M&T Bank Corp now owns 104,052 shares of the company’s stock worth $1,823,000 after acquiring an additional 850 shares during the period. Stratos Wealth Advisors LLC lifted its position in shares of CarGurus by 2.4% during the third quarter. Stratos Wealth Advisors LLC now owns 51,495 shares of the company’s stock valued at $902,000 after buying an additional 1,212 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of CarGurus during the third quarter valued at about $30,000. Acadian Asset Management LLC purchased a new stake in shares of CarGurus during the third quarter valued at about $32,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of CarGurus by 298.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock valued at $52,000 after buying an additional 2,210 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Samuel Zales sold 17,668 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now owns 564,609 shares in the company, valued at approximately $12,545,611.98. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, COO Samuel Zales sold 17,668 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now owns 564,609 shares in the company, valued at approximately $12,545,611.98. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Dafna Sarnoff sold 10,573 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $22.56, for a total transaction of $238,526.88. Following the sale, the chief marketing officer now directly owns 168,099 shares in the company, valued at approximately $3,792,313.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 113,793 shares of company stock worth $2,523,342. 15.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC increased their price target on shares of CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. UBS Group increased their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research report on Wednesday, April 17th. Finally, Oppenheimer increased their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and an average price target of $24.90.

CarGurus Stock Up 3.7 %

Shares of CarGurus stock opened at $23.47 on Wednesday. CarGurus, Inc. has a 52 week low of $15.34 and a 52 week high of $24.64. The company has a 50 day moving average price of $22.85 and a 200 day moving average price of $21.88. The firm has a market capitalization of $2.52 billion, a P/E ratio of 130.28, a PEG ratio of 1.35 and a beta of 1.58.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The company had revenue of $223.12 million for the quarter, compared to the consensus estimate of $220.05 million. During the same quarter in the prior year, the company earned $0.25 EPS. CarGurus’s quarterly revenue was down 22.2% on a year-over-year basis. As a group, research analysts anticipate that CarGurus, Inc. will post 0.94 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.