MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 62,955 shares of the company’s stock after acquiring an additional 483 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in CarGurus were worth $2,300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CARG. Louisiana State Employees Retirement System lifted its position in shares of CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock worth $1,553,000 after purchasing an additional 300 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company’s stock worth $332,000 after buying an additional 423 shares in the last quarter. Principal Securities Inc. boosted its position in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. Finally, QRG Capital Management Inc. grew its stake in shares of CarGurus by 6.6% during the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company’s stock valued at $281,000 after acquiring an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares of the company’s stock, valued at $12,004,969.50. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock worth $907,856 over the last ninety days. Company insiders own 16.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Needham & Company LLC decreased their price target on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, UBS Group raised their price objective on shares of CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.95.

CarGurus Price Performance

CARG stock opened at $31.56 on Thursday. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 175.34, a PEG ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The firm has a fifty day moving average price of $28.97 and a two-hundred day moving average price of $33.78.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. During the same period in the previous year, the business posted $0.32 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal 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.