Northern Trust Corp Purchases 49,511 Shares of CarGurus, Inc. (NASDAQ:CARG)

Northern Trust Corp boosted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 5.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 942,535 shares of the company's stock after buying an additional 49,511 shares during the quarter. Northern Trust Corp owned 0.91% of CarGurus worth $34,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARG. Vanguard Group Inc. grew its position in shares of CarGurus by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock valued at $353,959,000 after buying an additional 225,430 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after buying an additional 802,602 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after acquiring an additional 957,035 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in CarGurus by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock worth $39,237,000 after buying an additional 30,593 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in CarGurus by 35.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company's stock valued at $34,603,000 after purchasing an additional 245,919 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 0.2%

Shares of CARG traded up $0.07 during trading hours on Wednesday, hitting $33.64. 1,007,019 shares of the company were exchanged, compared to its average volume of 878,001. The firm's fifty day moving average is $28.83 and its 200 day moving average is $33.75. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 186.90, a P/E/G ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.32 EPS. Analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares of the company's stock, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock worth $907,856 over the last ninety days. Insiders own 16.99% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CARG shares. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. UBS Group lifted their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Needham & Company LLC cut their price objective on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. JMP Securities lowered their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research report on Monday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus currently has a consensus rating of "Moderate Buy" and an average target price of $36.95.

About CarGurus

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.