Janus Henderson Group PLC Cuts Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Janus Henderson Group PLC trimmed its stake in CarGurus, Inc. (NASDAQ:CARG) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,390 shares of the company’s stock after selling 3,400 shares during the period. Janus Henderson Group PLC’s holdings in CarGurus were worth $1,476,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CARG. Vanguard Group Inc. grew its stake in CarGurus by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock worth $353,959,000 after buying an additional 225,430 shares in the last quarter. Wellington Management Group LLP raised its position in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock valued at $261,091,000 after buying an additional 802,602 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after acquiring an additional 957,035 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in CarGurus by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock worth $39,237,000 after acquiring an additional 30,593 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its position in CarGurus by 35.1% in the fourth quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company’s stock worth $34,603,000 after acquiring an additional 245,919 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

CarGurus Price Performance

Shares of CARG stock opened at $31.81 on Friday. The business has a 50-day moving average of $28.98 and a 200 day moving average of $33.79. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The stock has a market capitalization of $3.32 billion, a PE ratio of 176.73, a P/E/G ratio of 1.72 and a beta of 1.45.

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

Analysts Set New Price Targets

CARG has been the topic of a number of research reports. Needham & Company LLC lowered their price target on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. UBS Group increased their price objective on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. JPMorgan Chase & Co. cut CarGurus from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Finally, Oppenheimer reduced their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Three investment 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’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.95.

CarGurus Company 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.