Northern Trust Corp Buys 49,511 Shares of CarGurus, Inc. (NASDAQ:CARG)

Northern Trust Corp boosted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942,535 shares of the company’s stock after buying an additional 49,511 shares during the quarter. Northern Trust Corp owned approximately 0.91% of CarGurus worth $34,440,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CARG. Louisiana State Employees Retirement System grew its stake in CarGurus by 0.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock worth $1,553,000 after purchasing an additional 300 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in CarGurus by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company’s stock worth $332,000 after acquiring an additional 423 shares in the last quarter. Principal Securities Inc. increased its position in CarGurus by 82.7% during the 4th 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. Fifth Third Bancorp lifted its position in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company’s stock worth $281,000 after purchasing an additional 475 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $30.97 on Friday. The company has a market capitalization of $3.23 billion, a PE ratio of 172.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The company’s fifty day moving average price is $28.73 and its 200 day moving average price is $33.73. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33.

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CARG shares. Needham & Company LLC reduced their price objective on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research note on Friday. JMP Securities decreased their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. UBS Group boosted their target price on shares of CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Finally, Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.95.

Insider Activity at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the transaction, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.29, for a total value of $282,900.00. Following the completion of the sale, the chief operating officer now directly owns 493,382 shares in the company, valued at $13,957,776.78. This represents a 1.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,824 shares of company stock valued at $907,856. 16.99% 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.