State of New Jersey Common Pension Fund D Grows Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

State of New Jersey Common Pension Fund D increased its stake in shares of CarGurus, Inc. (NASDAQ:CARGGet Rating) by 25.2% in the 3rd quarter, Holdings Channel reports. The firm owned 124,069 shares of the company’s stock after buying an additional 24,997 shares during the period. State of New Jersey Common Pension Fund D’s holdings in CarGurus were worth $1,758,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Rosenberg Matthew Hamilton bought a new stake in CarGurus during the second quarter valued at approximately $41,000. Penserra Capital Management LLC bought a new stake in CarGurus during the first quarter valued at approximately $117,000. Sawtooth Solutions LLC bought a new position in shares of CarGurus in the first quarter worth approximately $226,000. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the first quarter worth approximately $236,000. Finally, Lazard Asset Management LLC boosted its position in shares of CarGurus by 45.2% in the second quarter. Lazard Asset Management LLC now owns 6,081 shares of the company’s stock worth $130,000 after purchasing an additional 1,892 shares during the period. 89.37% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Up 2.0 %

CarGurus stock opened at $16.13 on Friday. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -13.91, a PEG ratio of 4.47 and a beta of 1.52. The firm’s fifty day moving average is $13.98 and its 200 day moving average is $16.74. CarGurus, Inc. has a 52-week low of $9.14 and a 52-week high of $50.03.

CarGurus (NASDAQ:CARGGet Rating) last announced its earnings results on Tuesday, November 8th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.23. CarGurus had a net margin of 3.76% and a return on equity of 20.56%. The business had revenue of $426.45 million for the quarter, compared to the consensus estimate of $463.18 million. On average, equities research analysts anticipate that CarGurus, Inc. will post 0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Needham & Company LLC dropped their price target on shares of CarGurus from $21.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 9th. Raymond James dropped their price target on shares of CarGurus from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Wednesday, November 9th. Royal Bank of Canada lowered their target price on shares of CarGurus from $35.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, November 9th. Citigroup initiated coverage on shares of CarGurus in a report on Tuesday, December 13th. They issued a “neutral” rating and a $14.00 target price on the stock. Finally, Jefferies Financial Group lowered their target price on shares of CarGurus from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, October 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.79.

About CarGurus

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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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