CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System lifted its stake in CarGurus, Inc. (NASDAQ:CARG – Get Rating) by 4.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,630 shares of the company’s stock after purchasing an additional 981 shares during the quarter. Arizona State Retirement System’s holdings in CarGurus were worth $345,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its stake in CarGurus by 23.3% during the third quarter. Great West Life Assurance Co. Can now owns 4,928 shares of the company’s stock worth $69,000 after acquiring an additional 932 shares during the last quarter. Point72 Hong Kong Ltd increased its stake in CarGurus by 23.4% during the third quarter. Point72 Hong Kong Ltd now owns 8,013 shares of the company’s stock worth $114,000 after acquiring an additional 1,522 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in CarGurus during the first quarter worth $117,000. Strs Ohio increased its stake in CarGurus by 17.6% during the third quarter. Strs Ohio now owns 8,700 shares of the company’s stock worth $123,000 after acquiring an additional 1,300 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in CarGurus during the third quarter worth $145,000. Institutional investors and hedge funds own 89.37% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $19.02 on Monday. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 54.34, a price-to-earnings-growth ratio of 34.37 and a beta of 1.62. The business has a 50-day moving average of $17.63 and a two-hundred day moving average of $16.04. CarGurus, Inc. has a 1 year low of $9.14 and a 1 year high of $26.73.

CarGurus (NASDAQ:CARG – Get Rating) last posted its earnings results on Tuesday, February 28th. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.29. CarGurus had a return on equity of 17.88% and a net margin of 18.68%. The business had revenue of $286.74 million for the quarter, compared to analysts’ expectations of $279.28 million. As a group, equities research analysts expect that CarGurus, Inc. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have issued reports on CARG. Raymond James raised their target price on CarGurus from $16.00 to $20.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 1st. DA Davidson raised their price target on CarGurus from $18.00 to $20.00 in a research report on Wednesday, May 10th. Piper Sandler lowered CarGurus from a “neutral” rating to an “underweight” rating and set a $12.00 price target for the company. in a research report on Thursday, February 16th. Royal Bank of Canada raised their price target on CarGurus from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. Finally, Oppenheimer raised their price target on CarGurus from $21.00 to $24.00 in a research report on Friday, May 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $21.27.

CarGurus Profile

(Get Rating)

Cargurus, Inc is an online automotive platform, which engages in buying and selling vehicles that is building upon its listings marketplace with digital retail solutions and the CarOffer digital wholesale platform. It operates through the following segments: U.S. Marketplace, Digital Wholesale, and Other.