CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 56.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 55,849 shares of the company's stock after selling 72,842 shares during the quarter. Teacher Retirement System of Texas owned 0.05% of CarGurus worth $1,627,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of CarGurus by 37.7% during the first quarter. Robeco Institutional Asset Management B.V. now owns 76,095 shares of the company's stock valued at $2,217,000 after buying an additional 20,834 shares during the period. Bessemer Group Inc. raised 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 buying an additional 731,287 shares during the last quarter. Blue Trust Inc. boosted its holdings in CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after acquiring an additional 829 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of CarGurus by 35.4% during the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its position in shares of CarGurus by 30.1% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 18,128 shares of the company's stock worth $528,000 after purchasing an additional 4,190 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CARG shares. Gordon Haskett initiated coverage on shares of CarGurus in a research note on Monday. They set a "hold" rating and a $35.00 price objective for the company. Needham & Company LLC decreased their price objective on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, JMP Securities reiterated a "market perform" rating and issued a $38.00 price objective on shares of CarGurus in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, CarGurus presently has an average rating of "Hold" and a consensus target price of $37.63.

CarGurus Stock Performance

NASDAQ CARG traded down $0.46 on Tuesday, hitting $33.93. 316,990 shares of the stock were exchanged, compared to its average volume of 873,022. The stock has a fifty day moving average price of $32.11 and a two-hundred day moving average price of $32.72. The firm has a market capitalization of $3.54 billion, a P/E ratio of 97.32, a P/E/G ratio of 1.68 and a beta of 1.44. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33.

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

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,369 shares of CarGurus stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the transaction, the chief executive officer owned 121,584 shares in the company, valued at $4,023,214.56. The trade was a 3.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $384,753.05. Following the completion of the sale, the general counsel owned 102,723 shares of the company's stock, valued at approximately $3,222,420.51. This trade represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,140 shares of company stock valued at $1,819,008 over the last ninety days. Company insiders own 17.20% of the company's stock.

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.