CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Principal Securities Inc.

Principal Securities Inc. raised its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 82.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 937 shares of the company’s stock after purchasing an additional 424 shares during the period. Principal Securities Inc.’s holdings in CarGurus were worth $34,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares during the last quarter. Geode Capital Management LLC grew its position in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after acquiring an additional 74,730 shares during the period. Prevatt Capital Ltd increased its stake in CarGurus by 7.0% during the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after acquiring an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in shares of CarGurus in the 3rd quarter valued at about $21,052,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CARG. DA Davidson increased their target price on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. JMP Securities restated a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Finally, Royal Bank of Canada increased their price target on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Trading Up 4.7 %

CARG opened at $32.19 on Friday. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 178.84, a PEG ratio of 1.72 and a beta of 1.59. The company has a fifty day simple moving average of $37.33 and a 200 day simple moving average of $33.88.

CarGurus (NASDAQ:CARG) last announced its earnings results 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). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. On average, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the sale, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at $7,005,545.10. The trade was a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,388 shares of company stock worth $2,204,338 in the last 90 days. 17.20% of the stock is owned by corporate insiders.

CarGurus 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.