Intech Investment Management LLC Has $1.64 Million Holdings in CarGurus, Inc. (NASDAQ:CARG)

Intech Investment Management LLC boosted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,821 shares of the company’s stock after buying an additional 22,410 shares during the quarter. Intech Investment Management LLC’s holdings in CarGurus were worth $1,638,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the 3rd quarter valued at approximately $28,000. Global Retirement Partners LLC grew its holdings in CarGurus by 198.5% during 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 raised its position 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 during the period. Principal Securities Inc. boosted its holdings in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new position in CarGurus in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

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

CarGurus Trading Up 0.8 %

Shares of NASDAQ CARG opened at $30.11 on Friday. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The business has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $34.17. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 167.29, a PEG ratio of 1.72 and a beta of 1.52.

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

Insiders Place Their Bets

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total transaction of $360,963.34. Following the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 over the last quarter. Company insiders own 17.20% of the company’s stock.

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.