Vanguard Group Inc. Sells 133,889 Shares of CarGurus, Inc. (NASDAQ:CARG)

Vanguard Group Inc. cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.3% during the fourth quarter, HoldingsChannel reports. The firm owned 10,091,294 shares of the company’s stock after selling 133,889 shares during the quarter. Vanguard Group Inc. owned about 0.09% of CarGurus worth $243,806,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CARG. GAMMA Investing LLC purchased a new position in CarGurus during the fourth quarter worth $32,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CarGurus by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock worth $437,000 after purchasing an additional 1,653 shares during the period. Acadian Asset Management LLC bought a new position in CarGurus during the 3rd quarter valued at about $32,000. Illinois Municipal Retirement Fund grew its holdings in CarGurus by 4.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 52,103 shares of the company’s stock valued at $1,259,000 after purchasing an additional 2,260 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in CarGurus in the 4th quarter worth about $65,000. 86.90% of the stock is owned by institutional investors.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the sale, the general counsel now directly owns 102,130 shares of the company’s stock, valued at $2,553,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $24.73, for a total transaction of $436,929.64. Following the completion of the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $13,572,936.85. The disclosure for this sale can be found here. Insiders have sold a total of 72,016 shares of company stock valued at $1,732,378 over the last quarter. 17.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on CARG shares. Royal Bank of Canada upped their target price on CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Needham & Company LLC increased their target price on CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. DA Davidson boosted their target price on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, May 13th. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, May 10th. Finally, UBS Group lifted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, CarGurus has an average rating of “Moderate Buy” and a consensus price target of $26.14.

CarGurus Stock Performance

NASDAQ CARG opened at $26.20 on Monday. The company has a market cap of $2.73 billion, a PE ratio of 93.57, a P/E/G ratio of 1.52 and a beta of 1.55. The firm’s 50 day moving average price is $24.21 and its 200-day moving average price is $23.53. CarGurus, Inc. has a 52-week low of $16.70 and a 52-week high of $26.90.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The company had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. On average, analysts forecast that CarGurus, Inc. will post 0.98 earnings per share for the current fiscal year.

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.