Thrivent Financial for Lutherans Lowers Stake in CarGurus, Inc. (NASDAQ:CARG)

Thrivent Financial for Lutherans cut its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,238,571 shares of the company’s stock after selling 41,464 shares during the quarter. Thrivent Financial for Lutherans’ holdings in CarGurus were worth $45,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of CARG. Atria Investments Inc purchased a new stake in shares of CarGurus during the third quarter worth about $247,000. Victory Capital Management Inc. grew its holdings in shares of CarGurus by 45.5% during the third quarter. Victory Capital Management Inc. now owns 94,939 shares of the company’s stock worth $2,851,000 after buying an additional 29,674 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of CarGurus during the third quarter worth about $608,000. KBC Group NV grew its holdings in shares of CarGurus by 34.0% during the third quarter. KBC Group NV now owns 3,397 shares of the company’s stock worth $102,000 after buying an additional 862 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in CarGurus by 46.6% in the third quarter. Natixis Advisors LLC now owns 23,248 shares of the company’s stock valued at $698,000 after purchasing an additional 7,393 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CARG shares. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CarGurus presently has an average rating of “Buy” and an average target price of $39.55.

Insider Activity at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock valued at $2,229,388 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

CarGurus Trading Down 0.1 %

NASDAQ CARG opened at $29.91 on Thursday. The company’s fifty day simple moving average is $35.98 and its 200-day simple moving average is $34.22. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The stock has a market cap of $3.12 billion, a P/E ratio of 166.18, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. On average, research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

About CarGurus

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.