Rhumbline Advisers Sells 16,896 Shares of CarGurus, Inc. (NASDAQ:CARG)

Rhumbline Advisers reduced its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 235,017 shares of the company’s stock after selling 16,896 shares during the quarter. Rhumbline Advisers owned 0.23% of CarGurus worth $6,157,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. CWM LLC increased its position in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares during the period. Nisa Investment Advisors LLC grew its position in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of CarGurus during the first quarter worth about $49,000. GAMMA Investing LLC lifted its stake in shares of CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after acquiring an additional 425 shares during the period. Finally, nVerses Capital LLC bought a new stake in CarGurus in the second quarter valued at approximately $102,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Stock Performance

CARG opened at $29.12 on Friday. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $29.40. The firm has a 50-day moving average of $26.53 and a 200 day moving average of $24.64. The firm has a market cap of $3.01 billion, a P/E ratio of 104.00, a PEG ratio of 1.33 and a beta of 1.56.

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

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total transaction of $666,700.32. Following the sale, the chief operating officer now directly owns 488,083 shares in the company, valued at approximately $12,929,318.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the firm’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 sale, the chief technology officer now owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the transaction, the chief operating officer now directly owns 488,083 shares of the company’s stock, valued at approximately $12,929,318.67. The disclosure for this sale can be found here. Insiders have sold a total of 57,421 shares of company stock valued at $1,567,354 over the last three months. 17.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. boosted their price target on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. BTIG Research raised their price objective on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Citigroup increased their target price on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Finally, B. Riley upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

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.