Bank of New York Mellon Corp Has $16.25 Million Holdings in CarGurus, Inc. (NASDAQ:CARG)

Bank of New York Mellon Corp cut its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 4.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 557,805 shares of the company's stock after selling 25,038 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of CarGurus worth $16,249,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. GeoWealth Management LLC acquired a new position in CarGurus in the fourth quarter valued at approximately $49,000. Blue Trust Inc. increased its position in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after purchasing an additional 829 shares in the last quarter. Versant Capital Management Inc increased its position in shares of CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock worth $76,000 after purchasing an additional 2,267 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of CarGurus by 25.0% during the fourth quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after purchasing an additional 543 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of CarGurus by 35.4% during the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock worth $122,000 after purchasing an additional 1,097 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Transactions at CarGurus

In other CarGurus news, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction 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 in the company, valued at approximately $3,248,245. This represents a 6.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total value of $338,800.00. Following the completion of the transaction, the chief operating officer directly owned 461,821 shares in the company, valued at approximately $15,646,495.48. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,049 shares of company stock valued at $1,899,297. 16.99% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC reduced their price target on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Gordon Haskett began coverage on CarGurus in a research note on Monday, July 14th. They set a "hold" rating and a $35.00 price target for the company. 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. JMP Securities reiterated a "market perform" rating and set a $38.00 price target on shares of CarGurus in a research report on Wednesday, July 2nd. Finally, UBS Group lifted their price target on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $37.63.

CarGurus Trading Down 1.0%

Shares of NASDAQ:CARG traded down $0.32 on Friday, reaching $33.16. 751,130 shares of the company were exchanged, compared to its average volume of 879,301. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The company has a 50-day moving average of $32.62 and a 200-day moving average of $32.64. The firm has a market cap of $3.46 billion, a price-to-earnings ratio of 94.75, a price-to-earnings-growth ratio of 1.62 and a beta of 1.44.

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