Crossmark Global Holdings Inc. Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Crossmark Global Holdings Inc. acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,022 shares of the company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the third quarter valued at about $28,000. Signaturefd LLC raised its stake in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of CarGurus during the third quarter valued at about $30,000. USA Financial Formulas bought a new position in shares of CarGurus during the fourth quarter valued at about $35,000. Finally, Quarry LP raised its stake in shares of CarGurus by 155.8% during the third quarter. Quarry LP now owns 1,499 shares of the company’s stock valued at $45,000 after acquiring an additional 913 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CARG shares. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. DA Davidson raised their price objective on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday, November 8th. B. Riley raised their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Jefferies Financial Group raised their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Stock Performance

CARG stock opened at $38.99 on Tuesday. The firm has a 50 day moving average price of $37.14 and a 200-day moving average price of $31.93. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $39.62. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of -84.76, a PEG ratio of 1.70 and a beta of 1.58.

Insider Activity

In related news, CMO Dafna Sarnoff sold 10,570 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the sale, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,556 shares of company stock worth $2,682,940. 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.