CarGurus, Inc. $CARG Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH grew its position in CarGurus, Inc. (NASDAQ:CARG) by 106.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 283,534 shares of the company’s stock after buying an additional 146,169 shares during the quarter. Allianz Asset Management GmbH’s holdings in CarGurus were worth $10,556,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in CarGurus by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock valued at $64,093,000 after purchasing an additional 6,676 shares during the last quarter. Congress Asset Management Co. acquired a new stake in CarGurus during the 3rd quarter worth $70,856,000. Invesco Ltd. grew its holdings in shares of CarGurus by 6.9% during the second quarter. Invesco Ltd. now owns 1,717,321 shares of the company’s stock worth $57,479,000 after buying an additional 110,452 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of CarGurus by 22.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,699,910 shares of the company’s stock valued at $56,896,000 after buying an additional 311,287 shares during the last quarter. Finally, Boston Partners raised its position in shares of CarGurus by 26.2% in the second quarter. Boston Partners now owns 1,109,048 shares of the company’s stock valued at $36,845,000 after buying an additional 230,492 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on CARG shares. Weiss Ratings restated a “hold (c+)” rating on shares of CarGurus in a research report on Monday, December 29th. Jefferies Financial Group raised their target price on shares of CarGurus from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Citigroup upped their price target on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research report on Tuesday, October 28th. Zacks Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Finally, DA Davidson set a $37.50 price objective on CarGurus in a research report on Monday, November 17th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.23.

Insider Buying and Selling at CarGurus

In related news, insider Jennifer Ladd Hanson sold 2,358 shares of the firm’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.10, for a total transaction of $89,839.80. Following the completion of the sale, the insider directly owned 50,466 shares of the company’s stock, valued at approximately $1,922,754.60. This trade represents a 4.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ismail Elshareef sold 1,645 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $32.21, for a total transaction of $52,985.45. Following the completion of the transaction, the insider directly owned 91,822 shares in the company, valued at $2,957,586.62. The trade was a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 49,003 shares of company stock worth $1,858,494 over the last quarter. 17.20% of the stock is currently owned by company insiders.

CarGurus Price Performance

CarGurus stock opened at $28.61 on Monday. The firm has a 50 day simple moving average of $35.94 and a 200-day simple moving average of $35.16. The stock has a market cap of $2.73 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.35. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $40.37.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. Equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.