CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in CarGurus, Inc. (NASDAQ:CARG) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 owned approximately 1.19% of CarGurus worth $45,257,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Counterpoint Mutual Funds LLC raised its stake in CarGurus by 46.9% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 49,878 shares of the company’s stock valued at $1,823,000 after buying an additional 15,923 shares in the last quarter. Cibc World Markets Corp acquired a new stake in shares of CarGurus during the 4th quarter worth about $297,000. Globeflex Capital L P raised its position in shares of CarGurus by 547.9% during the 4th quarter. Globeflex Capital L P now owns 12,523 shares of the company’s stock worth $458,000 after acquiring an additional 10,590 shares in the last quarter. Natixis Advisors LLC boosted its holdings in CarGurus by 9.0% in the fourth quarter. Natixis Advisors LLC now owns 25,338 shares of the company’s stock valued at $926,000 after purchasing an additional 2,090 shares in the last quarter. Finally, Monimus Capital Management LP purchased a new position in CarGurus in the fourth quarter valued at approximately $362,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Down 0.1 %

Shares of NASDAQ:CARG opened at $29.91 on Thursday. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 166.18, a PEG ratio of 1.72 and a beta of 1.52. The firm’s 50-day simple moving average is $35.98 and its 200-day simple moving average is $34.22. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33.

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

Analyst Upgrades and Downgrades

CARG has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer decreased their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $39.55.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 9,857 shares of CarGurus stock in a transaction dated 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 transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $15,923,145.02. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. The trade was a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,888 shares of company stock worth $2,229,388 over the last 90 days. Company insiders own 17.20% 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.