Natixis Advisors LLC Acquires 2,090 Shares of CarGurus, Inc. (NASDAQ:CARG)

Natixis Advisors LLC boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 9.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,338 shares of the company’s stock after purchasing an additional 2,090 shares during the quarter. Natixis Advisors LLC’s holdings in CarGurus were worth $926,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CARG. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus in the third quarter worth $28,000. Global Retirement Partners LLC boosted its holdings in shares of 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 purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp grew its position 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 purchasing an additional 456 shares in the last quarter. Principal Securities Inc. increased its holdings in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of CarGurus in the fourth quarter worth about $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Trading Down 1.3 %

CARG stock opened at $31.33 on Thursday. The stock has a market cap of $3.27 billion, a PE ratio of 174.07, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The company has a 50-day moving average price of $35.41 and a 200 day moving average price of $34.31.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (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%. Sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on CARG shares. Oppenheimer cut their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. JMP Securities reissued a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $39.55.

Insider Activity at CarGurus

In other news, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the sale, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 in the last quarter. 17.20% of the stock is owned by company insiders.

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.