Cars.com Inc. (NYSE:CARS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Cars.com Inc. (NYSE:CARS) by 5.6% in the third quarter, HoldingsChannel.com reports. The firm owned 286,660 shares of the company’s stock after selling 17,077 shares during the quarter. Principal Financial Group Inc.’s holdings in Cars.com were worth $4,804,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CARS. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Cars.com during the 2nd quarter worth about $38,000. Advisors Asset Management Inc. boosted its holdings in Cars.com by 145.2% in the third quarter. Advisors Asset Management Inc. now owns 3,148 shares of the company’s stock valued at $53,000 after purchasing an additional 1,864 shares in the last quarter. CWM LLC raised its holdings in Cars.com by 62.4% during the third quarter. CWM LLC now owns 3,569 shares of the company’s stock worth $60,000 after purchasing an additional 1,372 shares in the last quarter. MQS Management LLC acquired a new stake in Cars.com during the third quarter worth approximately $171,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Cars.com during the 2nd quarter worth approximately $180,000. Hedge funds and other institutional investors own 89.15% of the company’s stock.

Cars.com Stock Down 2.8 %

Shares of NYSE:CARS opened at $16.84 on Friday. Cars.com Inc. has a 1-year low of $15.05 and a 1-year high of $21.24. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a market cap of $1.09 billion, a P/E ratio of 29.03 and a beta of 2.12. The firm has a fifty day moving average price of $18.13 and a 200 day moving average price of $17.99.

Insider Activity

In related news, Director Jill A. Greenthal sold 4,524 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $19.86, for a total transaction of $89,846.64. Following the completion of the sale, the director now directly owns 101,963 shares of the company’s stock, valued at $2,024,985.18. This trade represents a 4.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Sonia Jain sold 24,971 shares of Cars.com stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $19.74, for a total transaction of $492,927.54. Following the completion of the sale, the chief financial officer now directly owns 229,229 shares in the company, valued at approximately $4,524,980.46. The trade was a 9.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.12% of the company’s stock.

Analyst Upgrades and Downgrades

CARS has been the topic of several research analyst reports. Barrington Research reiterated an “outperform” rating and set a $25.00 price target on shares of Cars.com in a research note on Wednesday, November 13th. UBS Group lifted their target price on Cars.com from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their target price on Cars.com from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Friday, November 8th.

About Cars.com

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.