Zurcher Kantonalbank Zurich Cantonalbank Acquires 8,638 Shares of CarGurus, Inc. (NASDAQ:CARG)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 46.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 27,222 shares of the company’s stock after acquiring an additional 8,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CarGurus were worth $995,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new stake in CarGurus in the third quarter worth $28,000. Global Retirement Partners LLC grew its holdings in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp increased its stake in CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the period. Principal Securities Inc. increased its stake in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the period. Finally, USA Financial Formulas bought a new stake in CarGurus during the 4th quarter valued at about $35,000. 86.90% of the stock is owned by institutional investors.

CarGurus Stock Performance

NASDAQ:CARG opened at $29.91 on Thursday. The company’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $34.22. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The stock has a market capitalization of $3.12 billion, a P/E ratio of 166.18, a P/E/G ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results 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). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. On average, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Matthew Todd Quinn sold 4,678 shares of the 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock valued at $2,229,388 in the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

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

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.