Vident Advisory LLC Has $4 Million Stake in CarGurus, Inc. (NASDAQ:CARG)

Vident Advisory LLC boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 7.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 173,305 shares of the company’s stock after purchasing an additional 12,039 shares during the period. Vident Advisory LLC’s holdings in CarGurus were worth $4,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CARG. GAMMA Investing LLC acquired a new position in CarGurus in the fourth quarter valued at $32,000. Headlands Technologies LLC acquired a new position in shares of CarGurus during the first quarter valued at about $49,000. Daiwa Securities Group Inc. acquired a new position in shares of CarGurus during the fourth quarter valued at about $65,000. PNC Financial Services Group Inc. raised its holdings in shares of CarGurus by 87.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock valued at $133,000 after purchasing an additional 2,568 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in shares of CarGurus during the first quarter valued at about $176,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Down 0.7 %

Shares of CARG stock traded down $0.18 during trading hours on Friday, hitting $25.01. 109,154 shares of the company were exchanged, compared to its average volume of 894,486. The firm has a fifty day simple moving average of $25.06 and a 200 day simple moving average of $23.74. CarGurus, Inc. has a 52-week low of $16.70 and a 52-week high of $26.90. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 89.32, a P/E/G ratio of 1.47 and a beta of 1.57.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The company had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. Sell-side analysts anticipate that CarGurus, Inc. will post 0.98 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the completion of the transaction, the general counsel now directly owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other CarGurus news, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $24.73, for a total value of $436,929.64. Following the completion of the transaction, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at approximately $13,572,936.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the transaction, the general counsel now directly owns 102,130 shares of the company’s stock, valued at $2,553,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 83,494 shares of company stock valued at $2,119,722. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Needham & Company LLC upped their price objective on shares of CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 10th. DA Davidson boosted their target price on shares of CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Royal Bank of Canada boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and set a $30.00 target price on shares of CarGurus in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $27.56.

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.