CarGurus, Inc. (NASDAQ:CARG) Stake Boosted by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 546.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 128,691 shares of the company’s stock after purchasing an additional 108,778 shares during the quarter. Teacher Retirement System of Texas owned about 0.12% of CarGurus worth $4,702,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. Point72 Hong Kong Ltd acquired a new stake in CarGurus in the third quarter worth $28,000. Global Retirement Partners LLC grew its position in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the period. Principal Securities Inc. lifted its position in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in CarGurus during the 4th quarter valued at about $35,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Up 0.8 %

NASDAQ:CARG opened at $30.11 on Monday. The stock has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $34.26. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year 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 the consensus estimate 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 during the quarter, compared to analyst estimates of $231.72 million. Equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the transaction, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. This represents a 2.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,888 shares of company stock worth $2,229,388. Corporate insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

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

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.