Natixis Advisors LLC Grows Position in CarGurus, Inc. (NASDAQ:CARG)

Natixis Advisors LLC increased its position in CarGurus, Inc. (NASDAQ:CARG) by 9.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,338 shares of the company’s stock after purchasing an additional 2,090 shares during the period. Natixis Advisors LLC’s holdings in CarGurus were worth $926,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the 3rd quarter worth about $28,000. Global Retirement Partners LLC increased its stake in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. Principal Securities Inc. boosted its position in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of CarGurus in the 4th quarter worth approximately $35,000. Institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The stock was 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 in the company, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 9,857 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34. Following the sale, the chief operating officer now owns 434,821 shares in the company, valued at $15,923,145.02. The trade was a 2.22 % 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 worth $2,229,388 in the last 90 days. 17.20% of the stock is currently owned by insiders.

CarGurus Price Performance

NASDAQ CARG opened at $31.33 on Thursday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 174.07, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The business’s fifty day moving average price is $35.41 and its 200-day moving average price is $34.31.

CarGurus (NASDAQ:CARG) last announced its 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. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Finally, Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. One 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $39.55.

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.