Nuveen Asset Management LLC Sells 15,284 Shares of CarGurus, Inc. (NASDAQ:CARG)

Nuveen Asset Management LLC cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 808,155 shares of the company's stock after selling 15,284 shares during the period. Nuveen Asset Management LLC owned 0.78% of CarGurus worth $29,530,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC increased its holdings in shares of CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company's stock worth $5,089,000 after purchasing an additional 121,341 shares during the period. Crossmark Global Holdings Inc. bought a new position in shares of CarGurus in the fourth quarter worth $220,000. Dakota Wealth Management bought a new position in shares of CarGurus in the fourth quarter worth $902,000. SG Americas Securities LLC increased its holdings in shares of CarGurus by 146.3% in the fourth quarter. SG Americas Securities LLC now owns 17,303 shares of the company's stock worth $632,000 after purchasing an additional 10,278 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in shares of CarGurus by 10.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,244 shares of the company's stock worth $338,000 after purchasing an additional 845 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. UBS Group upped 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. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Oppenheimer decreased their price objective 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. JMP Securities reduced their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reduced their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $36.95.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred 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 approximately $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the completion of the sale, the chief operating officer now directly owns 503,382 shares in the company, valued at $13,510,772.88. The trade was a 1.95% decrease in their ownership of the stock. 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. Insiders own 16.99% of the company's stock.

CarGurus Trading Down 2.8%

Shares of NASDAQ:CARG opened at $31.56 on Thursday. The stock's 50-day moving average price is $28.97 and its 200-day moving average price is $33.78. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The stock has a market capitalization of $3.30 billion, a P/E ratio of 175.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts' expectations of $226.72 million. During the same quarter last year, the business earned $0.32 earnings per share. The business's revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that CarGurus, Inc. will post 1.41 EPS 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.

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