Thrivent Financial for Lutherans Cuts Position in Cars.com Inc. as Promising Reports Emerge

May 24, 2023 – Thrivent Financial for Lutherans has recently cut its position in Cars.com Inc. (NYSE:CARS), reducing its stake by 18.5% in the fourth quarter of last year. In accordance with a disclosure made to the Securities and Exchange Commission, the institutional investor owned 63,542 shares after selling off 14,453 shares during Q4. This amounts to Thrivent Financial for Lutherans owning just 0.10% of Cars.com stocks which are worth $875,000 at the end of the quarter.

Cars.com Inc operates as an innovative digital marketplace in the USA connecting local car dealerships and original equipment manufacturers with consumers researching or intending to purchase a vehicle. Offering innovative software solutions enables customers to complete their entire purchase process through secure online portals.

According to several reports from finance analysts, Cars.com is expected to be one of the most promising stocks in today’s market. Craig Hallum increased their price target on shares of Cars.com from $17.00 to $24.00 and gave it a “buy” rating on February 24th earlier this year, while BTIG Research raised their price objective from $20.00 to $23.00 and giving it a “buy” rating as well on that same day.

DA Davidson also joined this chorus by raising their expectations about Cars.com from $17.50 to $23.25 per share at about that time when most analysts suggested that this venture was having an incredible bull market run.

The fact remains that these series of upbeat comments indicate an affirmative nod towards Cars.com’s strategy; with authorities acknowledging increased popularity amongst investors who are keenly interested in putting stakes in technology-driven firms like them.

It comes as no surprise since it has been established globally how far-reaching online purchases are influencing individual shopping experiences across all sectors worldwide over time, especially with the added convenience brought by mobile technologies like smartphones hence the investors’ move to pump more funds into this revolutionary space.

As Cars.com sustains its success in this arena, investors too are poised to gain in gigantic proportions. The key takeaway for any potential investor from this is that investing in driving market trends could yield considerable rewards, though the risk has arguably lost its hold on such ferocious markets.

Cars.com: Driving the Future of the Automotive Industry through Digital Solutions

Cars.com: A Digital Solution Driving the Automotive Industry Forward

Technology has revolutionized various sectors, including the automotive industry. Thanks to digital solutions like Cars.com, searching for and purchasing vehicles has never been easier.

Cars.com is a digital marketplace operating in the United States that connects local car dealers with consumers searching for cars or those interested in buying one. The company offers an array of digital solutions that help create connections between potential buyers and sellers.

Recently, several hedge funds and other institutional investors have shown interest in the company’s stock. Captrust Financial Advisors, Tower Research Capital LLC TRC, UBS Group AG, Zurcher Kantonalbank Zurich Cantonalbank, and Mutual of America Capital Management LLC are among the top holders of Cars.com’s stock.

In addition to institutional investment activity, insiders have also sold shares of Cars.com’s stock over the last 90 days. CEO Thomas Alex Vetter sold 1,600 shares worth $27,344 on March 14th. Insider Douglas Neal Miller sold 5,500 shares valued at $92,235 on the same day.

Despite this insider activity and institutional investment interest, Cars.com continues to perform well. The company recently reported its quarterly earnings results on May 4th: it had a net margin of 3.67% and a return on equity of 6.33%. Furthermore, it beat analysts’ estimates by posting $0.17 EPS compared to their expected $0.12 EPS.

Investors keen on owning a piece of this digital automotive marketplace can trade its stock as it currently trades under NYSE CARS with a fifty-two week high of $20.42 and a fifty-two week low of $8.78 as at May 24th., Week to date prices remain steady opening at $18.21 – sending positive signals for investors who prefer long-term investments over short-term gains due to its stable beta of 1.94.

Cars.com’s success in connecting individuals researching or seeking to buy a car with local dealerships and automotive original equipment manufacturers augurs well for the sector’s future. The company is transforming the way consumers search for and purchase cars, making it easier while also enabling dealerships to expand their reach significantly. Therefore, Cars.com continues to be an exciting digital solution driving the automotive industry forward.