Vestcor Inc Invests $1.17 Million in CarGurus, Inc. (NASDAQ:CARG)

Vestcor Inc acquired a new position in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,002 shares of the company’s stock, valued at approximately $1,169,000.

Several other large investors also recently added to or reduced their stakes in CARG. Loomis Sayles & Co. L P purchased a new position in CarGurus in the 3rd quarter worth approximately $21,052,000. Raymond James Financial Inc. purchased a new position in CarGurus in the fourth quarter worth $19,465,000. State Street Corp increased its stake in CarGurus by 4.8% in the third 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 raised its position in CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after purchasing an additional 121,341 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in CarGurus during the fourth quarter worth about $3,852,000. Institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 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 $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 59,388 shares of company stock valued at $2,204,338. 17.20% of the stock is currently owned by company insiders.

CarGurus Trading Up 2.1 %

CarGurus stock opened at $30.78 on Friday. The firm has a 50-day moving average of $36.23 and a 200-day moving average of $34.16. The firm has a market cap of $3.21 billion, a P/E ratio of 171.01, a P/E/G 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 issued its quarterly earnings data 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 business 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%. Research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CARG shares. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Finally, Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $39.55.

About CarGurus

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.