CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by Bank of Montreal Can

Bank of Montreal Can boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 7.0% in the 4th quarter, Holdings Channel reports. The firm owned 20,252 shares of the company’s stock after purchasing an additional 1,317 shares during the period. Bank of Montreal Can’s holdings in CarGurus were worth $740,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Polymer Capital Management US LLC acquired a new stake in shares of CarGurus during the fourth quarter worth about $304,000. Federated Hermes Inc. lifted its position in CarGurus by 3.7% during the 4th quarter. Federated Hermes Inc. now owns 377,564 shares of the company’s stock worth $13,796,000 after acquiring an additional 13,400 shares during the period. Thames Capital Management LLC purchased a new position in shares of CarGurus in the 4th quarter valued at approximately $2,783,000. Russell Investments Group Ltd. raised its stake in shares of CarGurus by 22.2% during the fourth quarter. Russell Investments Group Ltd. now owns 104,660 shares of the company’s stock worth $3,825,000 after purchasing an additional 18,989 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of CarGurus by 41.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 36,206 shares of the company’s stock worth $1,323,000 after purchasing an additional 10,614 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 40,000 shares of company stock valued at $1,343,400 in the last three months. 17.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent analyst reports. UBS Group reduced their target price on shares of CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a research note on Thursday, April 10th. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. JMP Securities reduced 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, JPMorgan Chase & Co. cut 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 research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

CarGurus Stock Performance

CarGurus stock opened at $26.61 on Friday. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The company has a 50-day simple moving average of $30.81 and a 200-day simple moving average of $34.01. The firm has a market capitalization of $2.78 billion, a P/E ratio of 147.84, a P/E/G ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, sell-side analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

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.