New York State Teachers Retirement System Has $961,000 Stock Position in CarGurus, Inc. (NASDAQ:CARG)

New York State Teachers Retirement System decreased its position in CarGurus, Inc. (NASDAQ:CARG) by 17.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 39,772 shares of the company’s stock after selling 8,616 shares during the period. New York State Teachers Retirement System’s holdings in CarGurus were worth $961,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in shares of CarGurus in the 3rd quarter valued at $30,000. Acadian Asset Management LLC acquired a new position in shares of CarGurus in the 3rd quarter valued at $32,000. First Horizon Advisors Inc. grew its holdings in shares of CarGurus by 56.8% in the 1st quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock valued at $33,000 after buying an additional 631 shares during the period. Quarry LP grew its holdings in shares of CarGurus by 32.5% in the 1st quarter. Quarry LP now owns 2,269 shares of the company’s stock valued at $42,000 after buying an additional 556 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of CarGurus in the 2nd quarter valued at $48,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In other news, insider Andrea Lee Eldridge sold 22,358 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total value of $494,782.54. Following the sale, the insider now directly owns 117,432 shares of the company’s stock, valued at approximately $2,598,770.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other CarGurus news, COO Samuel Zales sold 17,668 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now directly owns 564,609 shares of the company’s stock, valued at approximately $12,545,611.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrea Lee Eldridge sold 22,358 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the completion of the transaction, the insider now directly owns 117,432 shares in the company, valued at $2,598,770.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 113,793 shares of company stock valued at $2,523,342. 15.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Oppenheimer upped their target price on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. Needham & Company LLC upped their target price on shares of CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. JMP Securities reaffirmed a “market perform” rating on shares of CarGurus in a research note on Wednesday. Finally, UBS Group upped their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $24.90.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $21.54 on Friday. The company’s 50-day moving average price is $22.91 and its two-hundred day moving average price is $21.74. CarGurus, Inc. has a one year low of $15.34 and a one year high of $24.64. The stock has a market capitalization of $2.31 billion, a PE ratio of 119.67, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58.

CarGurus (NASDAQ:CARG) last issued its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. CarGurus’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, analysts anticipate that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.

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.