Xact Kapitalforvaltning AB raised its holdings in CarGurus Inc (NASDAQ:CARG) by 77.4% during the second quarter, Holdings Channel.com reports. The institutional investor owned 9,400 shares of the company’s stock after buying an additional 4,100 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in CarGurus were worth $339,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Geode Capital Management LLC boosted its position in shares of CarGurus by 13.6% during the fourth quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock valued at $27,795,000 after purchasing an additional 98,854 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of CarGurus by 4.1% during the first quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock valued at $300,238,000 after purchasing an additional 295,775 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of CarGurus by 356.6% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 15,934 shares of the company’s stock valued at $537,000 after purchasing an additional 12,444 shares in the last quarter. Raymond James & Associates boosted its position in shares of CarGurus by 74.0% during the fourth quarter. Raymond James & Associates now owns 32,657 shares of the company’s stock valued at $1,102,000 after purchasing an additional 13,890 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of CarGurus by 109.3% during the fourth quarter. Deutsche Bank AG now owns 661,143 shares of the company’s stock valued at $22,299,000 after purchasing an additional 345,250 shares in the last quarter. Hedge funds and other institutional investors own 74.81% of the company’s stock.

Shares of CARG stock traded down $0.05 during mid-day trading on Monday, hitting $36.54. The company’s stock had a trading volume of 30,148 shares, compared to its average volume of 557,479. The firm has a market capitalization of $4.05 billion, a PE ratio of 64.28, a price-to-earnings-growth ratio of 4.04 and a beta of 1.83. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. CarGurus Inc has a 52-week low of $30.29 and a 52-week high of $57.25. The company has a 50-day moving average of $36.47.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. The company had revenue of $135.30 million during the quarter, compared to analysts’ expectations of $129.54 million. CarGurus had a return on equity of 18.43% and a net margin of 13.94%. CarGurus’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 earnings per share. As a group, equities research analysts predict that CarGurus Inc will post 0.23 EPS for the current fiscal year.

Several equities research analysts recently weighed in on CARG shares. BTIG Research set a $14.00 price target on ARBOR RLTY TR I/SH and gave the company a “buy” rating in a research report on Wednesday, April 17th. TheStreet upgraded Third Point Reinsurance from a “d+” rating to a “c-” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised DLH from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. SunTrust Banks dropped their target price on EOG Resources to $120.00 and set a “buy” rating on the stock in a report on Wednesday, June 12th. Finally, ValuEngine raised Zumiez from a “sell” rating to a “hold” rating in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the stock. CarGurus presently has a consensus rating of “Buy” and a consensus target price of $48.92.

In other CarGurus news, Director Anastasios Parafestas sold 188,049 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $38.69, for a total value of $7,275,615.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Langley Steinert sold 117,406 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $40.59, for a total value of $4,765,509.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,973,006 shares of company stock valued at $110,186,605. 34.51% of the stock is owned by company insiders.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. 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.

See Also: Preferred Stock

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Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

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