CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its stake in CarGurus, Inc. (NASDAQ:CARG) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 942,535 shares of the company’s stock after acquiring an additional 49,511 shares during the quarter. Northern Trust Corp’s holdings in CarGurus were worth $34,440,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC increased its stake in CarGurus by 16.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after acquiring an additional 34,555 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in CarGurus by 36.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after buying an additional 23,445 shares during the period. Summit Global Investments acquired a new position in CarGurus in the fourth quarter valued at about $1,150,000. Friedenthal Financial purchased a new position in CarGurus during the fourth quarter worth about $767,000. Finally, Cookson Peirce & Co. Inc. increased its position in shares of CarGurus by 59.6% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company’s stock valued at $781,000 after acquiring an additional 7,982 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CARG. JMP Securities lowered their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut CarGurus from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Oppenheimer cut their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Needham & Company LLC lowered their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a report on Friday. Finally, UBS Group boosted their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a research note on Friday. Three research 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 company. According to MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and an average target price of $36.95.

CarGurus Stock Up 10.8 %

Shares of CarGurus stock opened at $30.97 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 $3.23 billion, a P/E ratio of 172.07, a P/E/G ratio of 1.72 and a beta of 1.45. The company has a 50 day moving average of $28.73 and a 200 day moving average of $33.73.

CarGurus (NASDAQ:CARG) last issued 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). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. As a group, research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares of the company’s stock, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,824 shares of company stock valued at $907,856. Corporate insiders own 16.99% of the company’s stock.

CarGurus Company 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.