State of Alaska Department of Revenue Acquires 3,790 Shares of CarGurus, Inc. (NASDAQ:CARG)

State of Alaska Department of Revenue grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 8.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,874 shares of the company’s stock after acquiring an additional 3,790 shares during the period. State of Alaska Department of Revenue’s holdings in CarGurus were worth $1,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CARG. BNP Paribas Financial Markets grew its holdings in CarGurus by 18.6% during the first quarter. BNP Paribas Financial Markets now owns 95,304 shares of the company’s stock valued at $2,200,000 after purchasing an additional 14,961 shares during the period. Capstone Investment Advisors LLC bought a new stake in CarGurus during the 1st quarter worth approximately $1,315,000. Jennison Associates LLC purchased a new position in CarGurus during the first quarter valued at approximately $707,000. Central Pacific Bank Trust Division bought a new position in shares of CarGurus in the first quarter worth approximately $176,000. Finally, Texas Permanent School Fund Corp increased its stake in shares of CarGurus by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 74,986 shares of the company’s stock worth $1,731,000 after purchasing an additional 980 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of CARG opened at $31.15 on Friday. The stock has a market capitalization of $3.22 billion, a PE ratio of -62.30, a P/E/G ratio of 1.75 and a beta of 1.56. The company’s fifty day moving average is $29.84 and its 200 day moving average is $26.51. CarGurus, Inc. has a fifty-two week low of $17.18 and a fifty-two week high of $32.36.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. As a group, research analysts forecast that CarGurus, Inc. will post 1.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CARG shares. Oppenheimer lifted their target price on shares of CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. BTIG Research increased their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. B. Riley boosted their price target on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Finally, Royal Bank of Canada boosted their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $30.59.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 3,107 shares of the business’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 transaction, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,065 shares of company stock worth $1,823,794 over the last ninety days. Company insiders own 17.20% of the company’s stock.

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.