First Trust Advisors LP Sells 19,737 Shares of CarGurus, Inc. (NASDAQ:CARG)

First Trust Advisors LP lowered its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,809 shares of the company’s stock after selling 19,737 shares during the period. First Trust Advisors LP owned 0.10% of CarGurus worth $3,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Global Retirement Partners LLC increased 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 grew its holdings in shares of CarGurus by 100.0% in 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 in the last quarter. Principal Securities Inc. raised its stake in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares in the last quarter. USA Financial Formulas bought a new position in CarGurus during the fourth quarter valued at $35,000. Finally, GeoWealth Management LLC purchased a new position in shares of CarGurus in the 4th quarter worth $49,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. UBS Group dropped their price target on CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. 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. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities reduced their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and an average target price of $37.14.

CarGurus Stock Up 1.0 %

CARG opened at $28.19 on Friday. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The company has a market capitalization of $2.94 billion, a P/E ratio of 156.62, a PEG ratio of 1.72 and a beta of 1.46. The stock’s fifty day moving average is $29.03 and its two-hundred day moving average is $33.82.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million during 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%. Equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Activity at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,824 shares of company stock valued at $1,392,156 over the last ninety days. 17.20% of the stock is owned by company insiders.

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.