CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in CarGurus, Inc. (NASDAQ:CARG) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 497,688 shares of the company’s stock after selling 4,298 shares during the period. Principal Financial Group Inc. owned about 0.44% of CarGurus worth $12,024,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of CarGurus during the 4th quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of CarGurus by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company’s stock valued at $437,000 after acquiring an additional 1,653 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of CarGurus during the 3rd quarter valued at approximately $32,000. Illinois Municipal Retirement Fund lifted its position in shares of CarGurus by 4.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 52,103 shares of the company’s stock valued at $1,259,000 after acquiring an additional 2,260 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in shares of CarGurus during the 4th quarter valued at approximately $65,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CARG. UBS Group lifted their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Needham & Company LLC raised their price objective on shares of CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, May 10th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. Finally, Oppenheimer raised their price objective 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. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.77.

CarGurus Trading Up 1.4 %

NASDAQ:CARG opened at $23.93 on Friday. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 85.46, a PEG ratio of 1.37 and a beta of 1.57. The firm’s fifty day simple moving average is $23.05 and its 200 day simple moving average is $22.77. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $24.98.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The firm’s revenue was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.25 EPS. On average, analysts predict that CarGurus, Inc. will post 0.98 earnings per share for the current year.

Insider Buying and Selling at CarGurus

In related news, insider Andrea Lee Eldridge sold 22,358 shares of CarGurus 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 sale, the insider now directly owns 117,432 shares in the company, valued at $2,598,770.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CMO Dafna Sarnoff sold 10,573 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $22.56, for a total value of $238,526.88. Following the completion of the sale, the chief marketing officer now owns 168,099 shares in the company, valued at $3,792,313.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Andrea Lee Eldridge sold 22,358 shares of CarGurus stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following 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. Insiders have sold 131,461 shares of company stock valued at $2,960,272 in the last quarter. Corporate insiders own 17.20% 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.