Dimensional Fund Advisors LP Has $56.36 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Dimensional Fund Advisors LP lowered its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 5.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,151,069 shares of the company’s stock after selling 120,779 shares during the quarter. Dimensional Fund Advisors LP’s holdings in CarGurus were worth $56,357,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CARG. CWM LLC grew its position in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares in the last quarter. Nisa Investment Advisors LLC grew its position in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares in the last quarter. Headlands Technologies LLC acquired a new stake in CarGurus during the first quarter worth approximately $49,000. GAMMA Investing LLC grew its position in CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after buying an additional 425 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in CarGurus during the second quarter worth approximately $102,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, CTO Matthew Todd Quinn sold 3,978 shares of CarGurus stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the transaction, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CTO Matthew Todd Quinn sold 3,978 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the sale, the chief technology officer now directly owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 57,421 shares of company stock valued at $1,567,354. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CARG shares. Royal Bank of Canada raised their target price on CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a report on Monday, September 9th. B. Riley raised their target price on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their target price on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Needham & Company LLC raised their target price on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.35.

CarGurus Trading Up 1.1 %

CARG stock opened at $29.69 on Friday. The stock has a 50-day moving average price of $27.36 and a 200-day moving average price of $25.13. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $30.99. The firm has a market cap of $3.09 billion, a PE ratio of 106.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The firm had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. On average, analysts forecast that CarGurus, Inc. will post 1.18 earnings per share for the current 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.