Teacher Retirement System of Texas Buys 108,778 Shares of CarGurus, Inc. (NASDAQ:CARG)

Teacher Retirement System of Texas increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 546.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 128,691 shares of the company’s stock after purchasing an additional 108,778 shares during the period. Teacher Retirement System of Texas’ holdings in CarGurus were worth $4,702,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Global Retirement Partners LLC grew its holdings in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the 3rd quarter worth $28,000. Principal Securities Inc. grew its stake in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares during the last quarter. Finally, USA Financial Formulas bought a new position in CarGurus in the 4th quarter worth $35,000. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Oppenheimer decreased their price target 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. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. JPMorgan Chase & Co. raised their target price on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a report on Friday, February 21st. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $39.55.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 9,857 shares of the business’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 owns 434,821 shares in the company, valued at $15,923,145.02. This represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 over the last quarter. Company insiders own 17.20% of the company’s stock.

CarGurus Trading Up 0.8 %

Shares of NASDAQ CARG opened at $30.11 on Monday. The firm has a market capitalization of $3.14 billion, a price-to-earnings 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 business has a fifty day simple moving average of $35.58 and a 200 day simple moving average of $34.26.

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

CarGurus 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.