CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 207.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,730 shares of the company’s stock after buying an additional 198,321 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.26% of CarGurus worth $7,097,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of CarGurus by 6.4% in the first quarter. Bank of New York Mellon Corp now owns 386,912 shares of the company’s stock worth $16,428,000 after purchasing an additional 23,382 shares in the last quarter. Bank of Montreal Can acquired a new position in CarGurus during the 1st quarter valued at about $880,000. MetLife Investment Management LLC raised its position in shares of CarGurus by 54.3% during the 1st quarter. MetLife Investment Management LLC now owns 50,963 shares of the company’s stock worth $2,164,000 after buying an additional 17,932 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of CarGurus by 1.4% in the 1st quarter. Rhumbline Advisers now owns 97,944 shares of the company’s stock worth $4,159,000 after acquiring an additional 1,325 shares during the period. Finally, APG Asset Management N.V. bought a new position in shares of CarGurus in the first quarter valued at approximately $431,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Needham & Company LLC boosted their target price on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Oppenheimer upped their price objective on CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a report on Tuesday, February 27th. UBS Group raised their target price on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, JMP Securities reiterated a “market perform” rating on shares of CarGurus in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average price target of $24.90.

CarGurus Trading Down 1.7 %

CARG stock opened at $21.22 on Thursday. CarGurus, Inc. has a one year low of $15.34 and a one year high of $24.64. The firm has a 50-day moving average of $22.94 and a two-hundred day moving average of $21.74. The firm has a market capitalization of $2.28 billion, a PE ratio of 117.89, a P/E/G ratio of 1.32 and a beta of 1.58.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The firm’s quarterly revenue was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that CarGurus, Inc. will post 0.94 earnings per share for the current year.

Insider Buying and Selling

In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of CarGurus stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now owns 163,798 shares in the company, valued at approximately $3,773,905.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.22, for a total transaction of $392,582.96. Following the transaction, the chief operating officer now owns 564,609 shares in the company, valued at $12,545,611.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 113,793 shares of company stock valued at $2,523,342. Corporate insiders own 15.70% 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.