Boston Partners Cuts Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Boston Partners lowered its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,457 shares of the company’s stock after selling 698 shares during the period. Boston Partners’ holdings in CarGurus were worth $1,844,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P bought a new stake in shares of CarGurus in the 3rd quarter worth $21,052,000. Raymond James Financial Inc. purchased a new stake in shares of CarGurus during the fourth quarter valued at $19,465,000. State Street Corp increased its holdings in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares in the last quarter. Barclays PLC raised its position in CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after buying an additional 121,341 shares during the last quarter. Finally, Moody Aldrich Partners LLC bought a new position in CarGurus during the 4th quarter valued at about $3,852,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 10,570 shares of the business’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 $378,194.60. Following the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated 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 owns 390,025 shares of the company’s stock, valued at $12,004,969.50. This represents a 2.50 % decrease in their position. 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 three months. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Performance

NASDAQ CARG opened at $30.11 on Friday. The business’s fifty day moving average is $35.58 and its 200 day moving average is $34.17. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33. The company has a market capitalization of $3.14 billion, a PE ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on CARG shares. JPMorgan Chase & Co. lifted their price target 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. Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JMP Securities reissued a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a report 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $39.55.

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.