Bokf Na Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Bokf Na acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 12,042 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds also recently bought and sold shares of the company. Lazard Asset Management LLC lifted its stake in CarGurus by 2.2% in the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after purchasing an additional 420 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares in the last quarter. Raymond James Trust N.A. increased its position in shares of CarGurus by 1.9% in the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after purchasing an additional 450 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares in the last quarter. Finally, CWM LLC raised its position in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Matthew Todd Quinn sold 3,978 shares of CarGurus stock in a transaction on Tuesday, July 2nd. The shares were 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 in the company, valued at $5,414,786.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The disclosure for this sale can be found here. Insiders have sold 57,421 shares of company stock valued at $1,567,354 over the last ninety days. 17.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on CARG shares. Royal Bank of Canada increased their target price on CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. JMP Securities reissued a “market outperform” rating and set a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. JPMorgan Chase & Co. upped their target price on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Needham & Company LLC lifted their price target on shares of CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, BTIG Research upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $29.35.

CarGurus Stock Performance

NASDAQ:CARG opened at $28.99 on Tuesday. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $29.40. The firm has a market cap of $3.00 billion, a PE ratio of 103.54, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56. The business has a 50 day moving average price of $26.61 and a 200-day moving average price of $24.71.

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