Deutsche Bank AG Raises Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Deutsche Bank AG increased its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 56.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 87,510 shares of the company's stock after purchasing an additional 31,636 shares during the period. Deutsche Bank AG owned approximately 0.08% of CarGurus worth $3,198,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in CarGurus by 16.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company's stock worth $8,748,000 after purchasing an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in CarGurus by 36.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company's stock worth $3,210,000 after purchasing an additional 23,445 shares in the last quarter. Summit Global Investments acquired a new position in CarGurus during the fourth quarter worth about $1,150,000. Cookson Peirce & Co. Inc. grew its position in CarGurus by 59.6% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company's stock worth $781,000 after buying an additional 7,982 shares during the period. Finally, Principal Financial Group Inc. grew its position in CarGurus by 4.8% during the fourth quarter. Principal Financial Group Inc. now owns 471,697 shares of the company's stock worth $17,236,000 after buying an additional 21,682 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CARG. Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. UBS Group upped their target price 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. Needham & Company LLC lowered 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 lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Three 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 stock. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.95.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. This trade represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is owned by insiders.

CarGurus Trading Down 2.1%

Shares of CARG stock traded down $0.66 during trading hours on Friday, hitting $31.15. The company's stock had a trading volume of 499,157 shares, compared to its average volume of 874,287. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 173.07, a P/E/G ratio of 1.72 and a beta of 1.45. The business has a fifty day moving average of $29.01 and a 200-day moving average of $33.78. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33.

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