CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 46.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 27,222 shares of the company’s stock after purchasing an additional 8,638 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in CarGurus were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Global Retirement Partners LLC lifted its stake in CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp raised its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in CarGurus during the third quarter valued at $28,000. Principal Securities Inc. lifted its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the period. Finally, USA Financial Formulas purchased a new stake in CarGurus in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the transaction, the chief executive officer now directly owns 120,051 shares in the company, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the sale, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock valued at $2,229,388 over the last ninety days. Insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CARG. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Oppenheimer lowered their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus presently has a consensus rating of “Buy” and an average target price of $39.55.

CarGurus Stock Down 0.1 %

CARG opened at $29.91 on Thursday. The firm’s fifty day simple moving average is $35.98 and its two-hundred day simple moving average is $34.22. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 166.18, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. On average, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

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.