Ameriprise Financial Inc. Purchases 9,401 Shares of CarGurus, Inc. (NASDAQ:CARG)

Ameriprise Financial Inc. increased its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 316,284 shares of the company's stock after buying an additional 9,401 shares during the quarter. Ameriprise Financial Inc. owned about 0.30% of CarGurus worth $11,557,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after purchasing an additional 957,035 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after acquiring an additional 802,602 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of CarGurus during the 4th quarter worth $19,465,000. Oberweis Asset Management Inc. bought a new stake in shares of CarGurus during the 4th quarter worth $18,270,000. Finally, Norges Bank acquired a new position in shares of CarGurus in the 4th quarter worth $14,369,000. Institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

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

CarGurus Trading Up 0.8%

NASDAQ CARG traded up $0.25 on Thursday, reaching $31.81. The stock had a trading volume of 813,063 shares, compared to its average volume of 874,169. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33. The business has a 50 day moving average price of $28.97 and a 200 day moving average price of $33.78. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 176.73, a P/E/G ratio of 1.72 and a beta of 1.45.

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

Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares of the company's stock, valued at approximately $3,469,286.70. This represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total value of $282,900.00. Following the completion of the transaction, the chief operating officer now directly owns 493,382 shares in the company, valued at $13,957,776.78. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock valued at $907,856 over the last ninety days. Corporate insiders own 16.99% of the company's stock.

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.