Dana Investment Advisors Inc. Sells 13,651 Shares of CarGurus, Inc. (NASDAQ:CARG)

Dana Investment Advisors Inc. trimmed its stake in CarGurus, Inc. (NASDAQ:CARG) by 5.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,839 shares of the company’s stock after selling 13,651 shares during the quarter. Dana Investment Advisors Inc.’s holdings in CarGurus were worth $8,654,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus in the 3rd quarter worth about $28,000. Global Retirement Partners LLC raised its holdings in CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp raised its holdings in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CARG has been the subject of a number of recent analyst reports. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Royal Bank of Canada increased their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Finally, Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

CarGurus Stock Performance

CARG stock opened at $32.46 on Thursday. The business’s 50-day moving average is $37.08 and its two-hundred day moving average is $34.04. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 180.34, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at $15,344,959. This represents a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares in the company, valued at $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,388 shares of company stock worth $2,204,338. Company insiders own 17.20% of the company’s stock.

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.