CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 0.4% in the 4th quarter, HoldingsChannel reports. The firm owned 133,450 shares of the company’s stock after purchasing an additional 500 shares during the period. Hillsdale Investment Management Inc.’s holdings in CarGurus were worth $4,876,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CARG. Loomis Sayles & Co. L P acquired a new position in CarGurus in the 3rd quarter valued at about $21,052,000. Raymond James Financial Inc. acquired a new position in shares of CarGurus during the 4th quarter valued at about $19,465,000. State Street Corp increased its stake in shares of CarGurus by 4.8% during 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 increased its stake in shares of CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after acquiring an additional 121,341 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of CarGurus by 546.3% during the 4th quarter. Teacher Retirement System of Texas now owns 128,691 shares of the company’s stock valued at $4,702,000 after acquiring an additional 108,778 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CARG. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Finally, JPMorgan Chase & Co. upped their price objective 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. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $39.55.

CarGurus Stock Performance

CARG opened at $30.11 on Friday. The firm has a 50 day moving average price of $35.58 and a 200 day moving average price of $34.17. The company has a market cap of $3.14 billion, a PE ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG) last released 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). The company had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the company’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 value of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. This represents a 2.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their position. 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 90 days. 17.20% of the stock is owned by company insiders.

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.