Ethic Inc. Buys New Shares in CarGurus, Inc. (NASDAQ:CARG)

Ethic Inc. purchased a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 15,676 shares of the company's stock, valued at approximately $573,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of CarGurus by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after buying an additional 225,430 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CarGurus by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after purchasing an additional 802,602 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after acquiring an additional 957,035 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after buying an additional 30,593 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in CarGurus by 35.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company's stock valued at $34,603,000 after buying an additional 245,919 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Stock Down 2.2%

CARG stock opened at $32.90 on Friday. The firm has a market cap of $3.44 billion, a PE ratio of 182.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The business has a 50 day moving average of $28.88 and a 200 day moving average of $33.76. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. During the same period in the previous year, the business earned $0.32 earnings per share. CarGurus's quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on CARG. UBS Group lifted their target price on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Oppenheimer lowered their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Needham & Company LLC lowered their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities cut their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.95.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the completion of the sale, the chief operating officer now owns 503,382 shares in the company, valued at approximately $13,510,772.88. The trade was a 1.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares of the company's stock, valued at $3,469,286.70. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock valued at $907,856 over the last ninety days. 16.99% of the stock is owned by insiders.

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.

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