CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 13.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,821 shares of the company's stock after buying an additional 8,547 shares during the period. Teachers Retirement System of The State of Kentucky owned 0.07% of CarGurus worth $2,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC purchased a new position in CarGurus during the 4th quarter worth $49,000. Signaturefd LLC raised its stake in shares of CarGurus by 83.9% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after purchasing an additional 799 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after purchasing an additional 829 shares during the period. Versant Capital Management Inc increased its stake in 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 buying an additional 2,267 shares during the period. Finally, NewEdge Advisors LLC raised its position in CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after buying an additional 543 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Price Performance

CARG stock traded down $0.38 during trading on Thursday, reaching $33.63. 684,333 shares of the stock traded hands, compared to its average volume of 790,990. The firm has a market capitalization of $3.51 billion, a PE ratio of 96.09, a P/E/G ratio of 1.67 and a beta of 1.44. The business's 50 day moving average price is $32.63 and its 200-day moving average price is $32.62. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm had revenue of $225.16 million for the quarter, compared to analysts' expectations of $226.72 million. During the same period in the previous year, the company posted $0.32 earnings per share. CarGurus's revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group upped their price objective on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC reduced their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research 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. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Finally, JMP Securities restated a "market perform" rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, CarGurus currently has a consensus rating of "Hold" and a consensus price target of $37.63.

Insider Activity at CarGurus

In related news, General Counsel Javier Zamora sold 6,154 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $215,390.00. Following the transaction, the general counsel directly owned 92,807 shares of the company's stock, valued at approximately $3,248,245. The trade was a 6.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $144,570.21. Following the completion of the transaction, the chief executive officer owned 121,584 shares of the company's stock, valued at $4,023,214.56. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,049 shares of company stock valued at $1,899,297 over the last 90 days. Corporate insiders own 16.99% of the company's stock.

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.