Robeco Institutional Asset Management B.V. Boosts Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Robeco Institutional Asset Management B.V. boosted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 23.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 55,261 shares of the company’s stock after acquiring an additional 10,498 shares during the period. Robeco Institutional Asset Management B.V. owned 0.05% of CarGurus worth $2,019,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. State Street Corp grew its stake in CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares in the last quarter. Geode Capital Management LLC grew its stake in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after acquiring an additional 74,730 shares in the last quarter. Prevatt Capital Ltd grew its stake in CarGurus by 7.0% during the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock valued at $36,937,000 after acquiring an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new position in CarGurus during the third quarter valued at $21,052,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Trading Down 2.0 %

CarGurus stock opened at $38.42 on Tuesday. The firm has a 50-day moving average price of $37.57 and a 200-day moving average price of $32.42. The firm has a market capitalization of $3.98 billion, a PE ratio of -83.52, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. DA Davidson lifted their price objective on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group lifted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, BTIG Research lifted their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.41.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the sale, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,556 shares of company stock worth $2,682,940. 17.20% of the stock is currently owned by insiders.

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.