CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Vident Advisory LLC

Vident Advisory LLC raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 7.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 173,305 shares of the company’s stock after purchasing an additional 12,039 shares during the quarter. Vident Advisory LLC owned 0.16% of CarGurus worth $4,000,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. MQS Management LLC acquired a new position in shares of CarGurus in the 1st quarter worth approximately $211,000. UniSuper Management Pty Ltd acquired a new position in shares of CarGurus in the 1st quarter worth approximately $483,000. Edgestream Partners L.P. acquired a new position in shares of CarGurus in the 1st quarter worth approximately $3,978,000. Vanguard Group Inc. grew its position in shares of CarGurus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after acquiring an additional 107,244 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of CarGurus by 23.4% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,778 shares of the company’s stock worth $595,000 after acquiring an additional 4,885 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Needham & Company LLC lifted their target price on CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. DA Davidson raised their price target on CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a report on Monday, May 13th. Royal Bank of Canada raised their price target on CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of CarGurus in a report on Wednesday, July 10th. Finally, Citigroup raised their price target on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.56.

Insider Buying and Selling

In related news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $24.73, for a total value of $436,929.64. Following the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at approximately $13,572,936.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $24.73, for a total transaction of $436,929.64. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at $13,572,936.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Matthew Todd Quinn sold 3,978 shares of CarGurus stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the transaction, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The disclosure for this sale can be found here. Insiders have sold 83,494 shares of company stock worth $2,119,722 in the last three months. 17.20% of the stock is currently owned by insiders.

CarGurus Stock Performance

Shares of CARG stock traded down $0.18 during mid-day trading on Friday, hitting $25.01. 109,154 shares of the stock traded hands, compared to its average volume of 894,486. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $26.90. The firm has a market cap of $2.61 billion, a price-to-earnings ratio of 89.32, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57. The company’s 50-day simple moving average is $25.06 and its 200-day simple moving average is $23.74.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The company had revenue of $215.80 million for the quarter, compared to analysts’ expectations of $217.29 million. Analysts forecast that CarGurus, Inc. will post 0.98 earnings per share for the current year.

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.