CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC trimmed its stake in CarGurus, Inc. (NASDAQ:CARG) by 9.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,206 shares of the company’s stock after selling 639 shares during the quarter. Prudent Man Advisors LLC’s holdings in CarGurus were worth $227,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. US Bancorp DE raised its holdings in shares of CarGurus by 246.6% in the fourth quarter. US Bancorp DE now owns 3,258 shares of the company’s stock worth $119,000 after acquiring an additional 2,318 shares during the last quarter. QRG Capital Management Inc. increased its stake in CarGurus by 6.6% in the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company’s stock valued at $281,000 after purchasing an additional 475 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in CarGurus in the fourth quarter valued at $374,000. Illinois Municipal Retirement Fund increased its stake in CarGurus by 7.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 46,102 shares of the company’s stock valued at $1,685,000 after purchasing an additional 3,006 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in CarGurus by 36.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after purchasing an additional 23,445 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares in the company, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,388 shares of company stock worth $2,204,338. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the subject of several analyst reports. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Royal Bank of Canada upped their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. DA Davidson upped their target price on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Stock Up 4.7 %

CARG opened at $32.19 on Friday. The firm has a market cap of $3.34 billion, a PE ratio of 178.84, a P/E/G ratio of 1.72 and a beta of 1.59. The business has a fifty day simple moving average of $37.25 and a 200-day simple moving average of $33.91. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG) last issued 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). The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

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.