Janus Henderson Group PLC Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

Janus Henderson Group PLC lessened its position in CarGurus, Inc. (NASDAQ:CARG) by 7.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,390 shares of the company’s stock after selling 3,400 shares during the quarter. Janus Henderson Group PLC’s holdings in CarGurus were worth $1,476,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Barclays PLC raised its holdings in CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of CarGurus during the 4th quarter valued at $220,000. Dakota Wealth Management purchased a new stake in shares of CarGurus in the 4th quarter worth about $902,000. SG Americas Securities LLC grew its position in shares of CarGurus by 146.3% in the 4th quarter. SG Americas Securities LLC now owns 17,303 shares of the company’s stock worth $632,000 after buying an additional 10,278 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of CarGurus by 10.1% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,244 shares of the company’s stock worth $338,000 after acquiring an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s 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 sale, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This trade represents a 1.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00. Following the completion of the sale, the chief operating officer now owns 493,382 shares of the company’s stock, valued at $13,957,776.78. This represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock worth $907,856 over the last quarter. 16.99% of the stock is currently owned by insiders.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $31.81 on Friday. The firm’s 50 day moving average price is $28.98 and its 200-day moving average price is $33.79. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33. The company has a market cap of $3.32 billion, a PE ratio of 176.73, a P/E/G 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 EPS. On average, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CARG has been the topic of several research reports. JMP Securities dropped their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. 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. Royal Bank of Canada reissued an “outperform” rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Needham & Company LLC cut their price target on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.95.

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.