CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 482,484 shares of the company's stock after purchasing an additional 10,787 shares during the quarter. Principal Financial Group Inc. owned about 0.46% of CarGurus worth $14,055,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CARG. US Bancorp DE raised its stake in CarGurus by 246.6% in the 4th quarter. US Bancorp DE now owns 3,258 shares of the company's stock valued at $119,000 after purchasing an additional 2,318 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in CarGurus by 39.7% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,575 shares of the company's stock valued at $167,000 after purchasing an additional 1,301 shares during the last quarter. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 30,593 shares during the last quarter. Victory Capital Management Inc. raised its stake in CarGurus by 19.7% in the 4th quarter. Victory Capital Management Inc. now owns 113,672 shares of the company's stock valued at $4,154,000 after purchasing an additional 18,733 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in CarGurus in the 4th quarter valued at $374,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 4,168 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $137,919.12. Following the completion of the transaction, the chief marketing officer directly owned 115,183 shares in the company, valued at approximately $3,811,405.47. This represents a 3.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.29, for a total value of $282,900.00. Following the transaction, the chief operating officer directly owned 493,382 shares in the company, valued at approximately $13,957,776.78. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,661 shares of company stock worth $1,557,243. Insiders own 16.99% of the company's stock.

CarGurus Trading Down 1.1%

NASDAQ CARG opened at $34.30 on Friday. The stock has a market cap of $3.58 billion, a PE ratio of 98.00, a P/E/G ratio of 1.68 and a beta of 1.44. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The stock has a fifty day simple moving average of $32.11 and a 200-day simple moving average of $32.75.

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

Analyst Ratings Changes

Several research analysts recently commented on CARG shares. Citigroup reduced their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. JMP Securities restated a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Needham & Company LLC dropped 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. Finally, Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

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.

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