Janus Henderson Group PLC Boosts Holdings in CarGurus, Inc. $CARG

Janus Henderson Group PLC boosted its stake in CarGurus, Inc. (NASDAQ:CARG) by 8.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 229,225 shares of the company’s stock after acquiring an additional 17,139 shares during the period. Janus Henderson Group PLC owned about 0.25% of CarGurus worth $7,805,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS Group AG grew its holdings in shares of CarGurus by 158.2% during the third quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock worth $57,254,000 after purchasing an additional 942,199 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of CarGurus by 6.6% in the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after purchasing an additional 594,670 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of CarGurus in the 4th quarter valued at about $21,756,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of CarGurus by 159,137.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after purchasing an additional 536,292 shares during the period. Finally, No Street GP LP grew its stake in CarGurus by 108.9% during the 3rd quarter. No Street GP LP now owns 835,000 shares of the company’s stock worth $31,087,000 after buying an additional 435,340 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on CARG shares. Citigroup assumed coverage on CarGurus in a research report on Friday, June 12th. They set a “buy” rating on the stock. Barclays increased their price objective on CarGurus from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. UBS Group set a $35.00 target price on shares of CarGurus in a report on Thursday, May 28th. Weiss Ratings downgraded shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Finally, Royal Bank Of Canada increased their price target on shares of CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $38.55.

Insider Buying and Selling

In related news, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total value of $133,954.72. Following the transaction, the chief technology officer directly owned 233,146 shares in the company, valued at $8,167,104.38. This trade represents a 1.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total transaction of $86,365.44. Following the completion of the transaction, the insider directly owned 92,894 shares in the company, valued at $3,210,416.64. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,764 shares of company stock valued at $1,071,649 over the last three months. 18.19% of the stock is currently owned by company insiders.

CarGurus Trading Down 1.6%

CarGurus stock opened at $36.41 on Thursday. CarGurus, Inc. has a twelve month low of $26.39 and a twelve month high of $39.42. The stock has a 50 day moving average of $32.54 and a two-hundred day moving average of $32.59. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 23.95, a PEG ratio of 1.35 and a beta of 1.17.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The company had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.10 million. During the same period last year, the business posted $0.46 EPS. The company’s revenue was up 8.2% on a year-over-year basis. Equities analysts predict that CarGurus, Inc. will post 2.11 earnings per share for the current year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.