Vinva Investment Management Ltd Sells 645 Shares of CarGurus, Inc. (NASDAQ:CARG)

Vinva Investment Management Ltd reduced its stake in CarGurus, Inc. (NASDAQ:CARG) by 3.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,303 shares of the company’s stock after selling 645 shares during the period. Vinva Investment Management Ltd’s holdings in CarGurus were worth $705,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the third quarter valued at approximately $28,000. Global Retirement Partners LLC increased its stake in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. increased its stake in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas bought a new position in shares of CarGurus during the fourth quarter valued at approximately $35,000. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $167,378.84. Following the transaction, the chief technology officer now owns 195,795 shares in the company, valued at approximately $7,005,545.10. This represents a 2.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at $15,923,145.02. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 in the last 90 days. 17.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of analyst reports. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $39.55.

CarGurus Trading Up 0.8 %

CARG stock opened at $30.11 on Friday. The stock has a market cap of $3.14 billion, a PE ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The company has a 50-day moving average price of $35.58 and a 200 day moving average price of $34.17.

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