Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 65,003 CarGurus, Inc. (NASDAQ:CARG)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 65,003 shares of the company's stock, valued at approximately $1,894,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.06% of CarGurus at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CARG. Y Intercept Hong Kong Ltd acquired a new position in CarGurus in the first quarter valued at approximately $905,000. Teachers Retirement System of The State of Kentucky lifted its stake in CarGurus by 13.9% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 69,821 shares of the company's stock valued at $2,034,000 after buying an additional 8,547 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of CarGurus by 52.6% in the 1st quarter. Victory Capital Management Inc. now owns 173,469 shares of the company's stock worth $5,053,000 after purchasing an additional 59,797 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of CarGurus by 83.9% in the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after purchasing an additional 799 shares in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of CarGurus in the 1st quarter worth $4,774,000. 86.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Citigroup lowered their price target on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Gordon Haskett started coverage on CarGurus in a research note on Monday, July 14th. They set a "hold" rating and a $35.00 price objective on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Finally, Needham & Company LLC dropped their price objective on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $37.63.

Insider Activity

In other news, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $125,378.01. Following the completion of the sale, the chief technology officer owned 216,877 shares in the company, valued at approximately $7,176,459.93. This trade represents a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Javier Zamora sold 6,154 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the sale, the general counsel owned 92,807 shares of the company's stock, valued at $3,248,245. The trade was a 6.22% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,049 shares of company stock worth $1,616,397. Company insiders own 16.99% of the company's stock.

CarGurus Stock Down 2.9%

CARG traded down $0.96 during trading hours on Friday, hitting $31.86. The stock had a trading volume of 753,343 shares, compared to its average volume of 701,371. The company's fifty day simple moving average is $32.77 and its 200 day simple moving average is $32.45. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33. The stock has a market cap of $3.33 billion, a PE ratio of 91.03, a price-to-earnings-growth ratio of 1.61 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same quarter last year, the company earned $0.32 EPS. The firm's revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

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.