Robeco Institutional Asset Management B.V. Grows Stake in CarGurus, Inc. (NASDAQ:CARG)

Robeco Institutional Asset Management B.V. grew its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 37.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 76,095 shares of the company's stock after acquiring an additional 20,834 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.07% of CarGurus worth $2,217,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC purchased a new position in shares of CarGurus in the 4th quarter valued at about $49,000. Blue Trust Inc. increased its holdings in shares of CarGurus by 49.8% in the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after acquiring an additional 829 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of CarGurus by 695.4% in the 1st quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after acquiring an additional 2,267 shares during the last quarter. NewEdge Advisors LLC increased its holdings in shares of CarGurus by 25.0% in the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after acquiring an additional 543 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of CarGurus by 528.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,765 shares of the company's stock valued at $102,000 after acquiring an additional 2,325 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insiders Place Their Bets

In other news, CTO Matthew Todd Quinn sold 3,789 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $125,378.01. Following the completion of the sale, the chief technology officer directly owned 216,877 shares of the company's stock, valued at $7,176,459.93. This trade represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Javier Esquivel Zamora sold 12,265 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $384,753.05. Following the completion of the sale, the general counsel directly owned 102,723 shares of the company's stock, valued at $3,222,420.51. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,661 shares of company stock worth $1,557,243. Corporate insiders own 16.99% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Needham & Company LLC decreased their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Citigroup decreased their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday. UBS Group upped their target price on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Finally, JMP Securities reissued a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and an average price target of $37.86.

CarGurus Stock Performance

CarGurus stock traded up $0.03 during mid-day trading on Friday, reaching $33.68. 410,699 shares of the company were exchanged, compared to its average volume of 869,645. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The firm's 50-day simple moving average is $31.52 and its two-hundred day simple moving average is $32.83. The firm has a market cap of $3.52 billion, a PE ratio of 96.22, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data 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 company 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 firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. As a group, equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

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.