Sheaff Brock Investment Advisors LLC Makes New $226,000 Investment in CarGurus, Inc. (NASDAQ:CARG)

Sheaff Brock Investment Advisors LLC purchased a new position in CarGurus, Inc. (NASDAQ:CARG – Get Rating) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,318 shares of the company’s stock, valued at approximately $226,000.

A number of other institutional investors have also bought and sold shares of the business. CIBC Asset Management Inc purchased a new stake in CarGurus in the 1st quarter worth $205,000. Aigen Investment Management LP increased its stake in CarGurus by 97.4% in the 1st quarter. Aigen Investment Management LP now owns 14,351 shares of the company’s stock worth $609,000 after buying an additional 7,080 shares in the last quarter. National Bank of Canada FI bought a new position in shares of CarGurus during the 1st quarter valued at about $1,121,000. Baillie Gifford & Co. boosted its holdings in shares of CarGurus by 20.6% during the 1st quarter. Baillie Gifford & Co. now owns 32,336 shares of the company’s stock valued at $1,373,000 after purchasing an additional 5,522 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in shares of CarGurus by 49.8% during the 1st quarter. New York State Common Retirement Fund now owns 100,336 shares of the company’s stock valued at $4,260,000 after purchasing an additional 33,362 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have commented on the stock. Benchmark dropped their price objective on shares of CarGurus from $63.00 to $50.00 in a report on Tuesday, May 10th. Royal Bank of Canada dropped their price objective on shares of CarGurus from $56.00 to $45.00 in a report on Tuesday, May 10th. Oppenheimer dropped their price objective on shares of CarGurus from $45.00 to $38.00 in a report on Tuesday, May 10th. JMP Securities assumed coverage on shares of CarGurus in a report on Thursday, June 30th. They set a “market perform” rating for the company. Finally, Truist Financial dropped their price objective on shares of CarGurus from $53.00 to $44.00 and set a “buy” rating for the company in a report on Monday, July 25th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.45.

Insider Buying and Selling

In related news, COO Samuel Zales sold 17,707 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $25.02, for a total value of $443,029.14. Following the sale, the chief operating officer now directly owns 392,587 shares of the company’s stock, valued at approximately $9,822,526.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.80% of the stock is currently owned by corporate insiders.

CarGurus Stock Up 1.5 %

Shares of NASDAQ:CARG opened at $25.69 on Friday. CarGurus, Inc. has a 12 month low of $20.15 and a 12 month high of $50.03. The company has a 50-day moving average price of $23.60 and a 200 day moving average price of $31.50.

CarGurus (NASDAQ:CARG – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.02). CarGurus had a return on equity of 22.94% and a net margin of 2.05%. The firm had revenue of $430.60 million during the quarter, compared to analysts’ expectations of $392.66 million. During the same period last year, the company earned $0.24 earnings per share. The business’s revenue for the quarter was up 151.2% compared to the same quarter last year. Research analysts expect that CarGurus, Inc. will post 0.59 earnings per share for the current fiscal year.

About CarGurus

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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.