Illinois Municipal Retirement Fund Purchases 3,006 Shares of CarGurus, Inc. (NASDAQ:CARG)

Illinois Municipal Retirement Fund lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,102 shares of the company’s stock after purchasing an additional 3,006 shares during the period. Illinois Municipal Retirement Fund’s holdings in CarGurus were worth $1,685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P bought a new position in shares of CarGurus during the third quarter worth $21,052,000. State Street Corp increased its holdings in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares during the last quarter. Barclays PLC lifted its stake in CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares in the last quarter. Moody Aldrich Partners LLC bought a new position in shares of CarGurus during the 4th quarter valued at about $3,852,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CarGurus by 9.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the firm’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 $378,194.60. Following the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock valued at $2,204,338 in the last quarter. 17.20% of the stock is owned by insiders.

CarGurus Trading Up 4.7 %

CARG stock opened at $32.19 on Friday. The stock has a market cap of $3.34 billion, a PE ratio of 178.84, a P/E/G ratio of 1.72 and a beta of 1.59. 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 $37.33 and a 200 day moving average price of $33.88.

CarGurus (NASDAQ:CARG) last announced its earnings results 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). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. Sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Royal Bank of Canada boosted their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Oppenheimer cut their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average price target of $38.41.

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.