Public Employees Retirement Association of Colorado Has $274,000 Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Public Employees Retirement Association of Colorado trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,468 shares of the company’s stock after selling 1,187 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in CarGurus were worth $274,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CARG. CWM LLC raised its stake in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings 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 worth $41,000 after purchasing an additional 479 shares during the last quarter. GAMMA Investing LLC increased its position in shares of CarGurus by 25.9% during the 2nd 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. Headlands Technologies LLC bought a new position in CarGurus during the 1st quarter valued at about $49,000. Finally, nVerses Capital LLC bought a new position in CarGurus during the 2nd quarter valued at about $102,000. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following 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 document filed with the SEC, which is accessible through the SEC website. In related news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now directly owns 480,583 shares in the company, valued at approximately $13,619,722.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,421 shares of company stock valued at $1,567,354. Company insiders own 17.20% of the company’s stock.

CarGurus Stock Up 1.1 %

Shares of CARG opened at $29.69 on Friday. The stock’s fifty day simple moving average is $27.36 and its 200-day simple moving average is $25.13. The firm has a market capitalization of $3.09 billion, a PE ratio of 106.04, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $30.99.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $214.85 million. Analysts anticipate that CarGurus, Inc. will post 1.18 EPS for the current year.

Wall Street Analyst Weigh In

CARG has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. DA Davidson reaffirmed a “neutral” rating and set a $26.50 price target on shares of CarGurus in a report on Tuesday, September 10th. JPMorgan Chase & Co. boosted their price objective on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, August 12th. Oppenheimer increased their target price on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Needham & Company LLC lifted their price target on CarGurus from $25.00 to $27.00 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 company. According to data from MarketBeat, CarGurus 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.