Dana Investment Advisors Inc. Trims Holdings in CarGurus, Inc. (NASDAQ:CARG)

Dana Investment Advisors Inc. decreased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 236,839 shares of the company’s stock after selling 13,651 shares during the period. Dana Investment Advisors Inc. owned 0.23% of CarGurus worth $8,654,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after buying an additional 151,862 shares during the period. Geode Capital Management LLC increased its holdings in CarGurus by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after acquiring an additional 74,730 shares during the period. Prevatt Capital Ltd lifted its stake in CarGurus by 7.0% in the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after purchasing an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock valued at $39,237,000 after purchasing an additional 30,593 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in shares of CarGurus during the 3rd quarter valued at $21,052,000. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other CarGurus news, CMO Dafna Sarnoff sold 10,570 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction 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 $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,388 shares of company stock valued at $2,204,338. Insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

CARG stock opened at $32.46 on Thursday. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company has a market capitalization of $3.39 billion, a PE ratio of 180.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The company’s 50 day moving average price is $37.08 and its two-hundred day moving average price is $34.04.

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 business had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. On average, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. increased 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. B. Riley raised their price target on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Royal Bank of Canada boosted their price objective on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, DA Davidson lifted their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

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.