Boston Partners Decreases Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Boston Partners cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,457 shares of the company’s stock after selling 698 shares during the quarter. Boston Partners’ holdings in CarGurus were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Global Retirement Partners LLC lifted its position in CarGurus by 198.5% in 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 during the last quarter. Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% in the fourth 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. Point72 Hong Kong Ltd bought a new stake in CarGurus during the 3rd quarter valued at $28,000. Principal Securities Inc. boosted its position in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares during the period. Finally, USA Financial Formulas bought a new stake in CarGurus in the 4th quarter worth $35,000. 86.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CARG has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $39.55.

Insider Buying and Selling

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of CarGurus stock in a transaction on 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 transaction, the chief technology officer now owns 195,795 shares in the company, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This represents a 4.76 % 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 over the last quarter. Corporate insiders own 17.20% of the company’s stock.

CarGurus Stock Up 0.8 %

NASDAQ CARG opened at $30.11 on Friday. The firm has a market capitalization of $3.14 billion, a PE ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52. The stock’s 50 day moving average is $35.58 and its 200 day moving average is $34.17. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, research analysts anticipate that CarGurus, Inc. will post 1.41 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.