Vinva Investment Management Ltd Decreases Holdings in CarGurus, Inc. (NASDAQ:CARG)

Vinva Investment Management Ltd trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 19,303 shares of the company’s stock after selling 645 shares during the quarter. Vinva Investment Management Ltd’s holdings in CarGurus were worth $705,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CARG. State Street Corp raised its position in shares of 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 buying an additional 151,862 shares during the last quarter. Geode Capital Management LLC raised its position in shares of CarGurus by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after buying an additional 74,730 shares during the last quarter. Prevatt Capital Ltd raised its position in shares of CarGurus by 7.0% in the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock valued at $36,937,000 after buying an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in CarGurus by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock worth $39,237,000 after purchasing an additional 30,593 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new stake in CarGurus during the third quarter worth about $21,052,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CARG shares. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Oppenheimer cut their price objective 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. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. One analyst has 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. According to MarketBeat, CarGurus currently has an average rating of “Buy” and a consensus target price of $39.55.

Insider Buying and Selling

In related news, CMO Dafna Sarnoff sold 10,570 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 $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. The trade was a 9.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock worth $2,229,388 in the last three months. Corporate insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $30.11 on Friday. The firm has a market capitalization of $3.14 billion, a P/E ratio of 167.29, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company’s fifty day moving average is $35.58 and its two-hundred day moving average is $34.17.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million for 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 forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.