CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Vestcor Inc

Vestcor Inc cut its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 82.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,565 shares of the company's stock after selling 26,437 shares during the period. Vestcor Inc's holdings in CarGurus were worth $162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prevatt Capital Ltd lifted its stake in CarGurus by 9.8% during the fourth quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock valued at $49,329,000 after purchasing an additional 120,000 shares during the last quarter. Northern Trust Corp lifted its stake in CarGurus by 5.5% during the fourth quarter. Northern Trust Corp now owns 942,535 shares of the company's stock valued at $34,440,000 after purchasing an additional 49,511 shares during the last quarter. Bessemer Group Inc. lifted its stake in CarGurus by 237,430.8% during the first quarter. Bessemer Group Inc. now owns 731,595 shares of the company's stock valued at $21,312,000 after purchasing an additional 731,287 shares during the last quarter. No Street GP LP acquired a new stake in CarGurus during the fourth quarter valued at approximately $25,578,000. Finally, JPMorgan Chase & Co. lifted its stake in CarGurus by 48.7% during the fourth quarter. JPMorgan Chase & Co. now owns 600,530 shares of the company's stock valued at $21,943,000 after purchasing an additional 196,697 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In other news, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $215,390.00. Following the transaction, the general counsel owned 92,807 shares in the company, valued at $3,248,245. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ismail Elshareef sold 5,246 shares of the stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total transaction of $164,567.02. Following the transaction, the insider owned 107,007 shares in the company, valued at approximately $3,356,809.59. This trade represents a 4.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,049 shares of company stock worth $1,616,397 over the last quarter. 17.20% of the stock is currently owned by corporate insiders.

CarGurus Stock Down 0.9%

CARG stock opened at $31.57 on Tuesday. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 90.20, a PEG ratio of 1.56 and a beta of 1.42. The company has a 50 day moving average of $32.77 and a two-hundred day moving average of $32.34.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly 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 net margin of 4.28% and a return on equity of 32.54%. The company had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. During the same quarter in the prior year, the business posted $0.32 EPS. CarGurus's quarterly revenue was up 4.3% on a year-over-year basis. On average, research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citizens Jmp downgraded shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. Gordon Haskett assumed coverage on shares of CarGurus in a research report on Monday, July 14th. They issued a "hold" rating and a $35.00 price target for the company. UBS Group upped their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Finally, JMP Securities restated a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a research report on Wednesday, July 2nd. Seven investment 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 stock currently has a consensus rating of "Hold" and a consensus target price of $37.63.

CarGurus 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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