Mercer Global Advisors Inc. ADV Buys Shares of 6,399 CarGurus, Inc. (NASDAQ:CARG)

Mercer Global Advisors Inc. ADV bought a new stake in CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,399 shares of the company’s stock, valued at approximately $234,000.

Several other large investors have also recently bought and sold shares of CARG. Global Retirement Partners LLC raised its holdings in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp raised its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares during the period. Principal Securities Inc. raised its holdings in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares during the period. USA Financial Formulas acquired a new stake in shares of CarGurus during the fourth quarter worth $35,000. Finally, GeoWealth Management LLC acquired a new stake in shares of CarGurus during the fourth quarter worth $49,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price objective on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Royal Bank of Canada restated an “outperform” rating and set a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Finally, UBS Group lifted their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.95.

CarGurus Price Performance

Shares of CARG opened at $32.46 on Friday. The firm has a 50-day moving average of $28.89 and a 200-day moving average of $33.77. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The company has a market cap of $3.39 billion, a PE ratio of 180.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same quarter last year, the firm posted $0.32 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. Analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares of the company’s stock, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00. Following the sale, the chief operating officer now directly owns 493,382 shares of the company’s stock, valued at $13,957,776.78. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock valued at $907,856 in the last quarter. Company insiders own 16.99% of the company’s stock.

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.