Hennion & Walsh Asset Management Inc. Trims Stake in CarGurus, Inc. (NASDAQ:CARG)

Hennion & Walsh Asset Management Inc. reduced its position in CarGurus, Inc. (NASDAQ:CARG) by 27.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,803 shares of the company’s stock after selling 4,468 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in CarGurus were worth $272,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in shares of CarGurus during the fourth quarter worth approximately $32,000. Daiwa Securities Group Inc. purchased a new position in shares of CarGurus during the fourth quarter worth approximately $65,000. PNC Financial Services Group Inc. increased its position in shares of CarGurus by 87.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock worth $133,000 after acquiring an additional 2,568 shares during the period. Quadrature Capital Ltd purchased a new position in shares of CarGurus during the third quarter worth approximately $190,000. Finally, Scharf Investments LLC purchased a new position in shares of CarGurus during the first quarter worth approximately $203,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Needham & Company LLC raised their target price on shares of CarGurus from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Citigroup increased their price objective on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday. JMP Securities upgraded shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a research note on Friday, June 7th. UBS Group increased their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Finally, DA Davidson increased their price objective on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research note on Monday, May 13th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.41.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the completion of the transaction, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the sale, the general counsel now owns 102,130 shares in the company, valued at $2,553,250. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders sold a total of 75,994 shares of company stock valued at $1,831,470 over the last 90 days. Insiders own 17.20% of the company’s stock.

CarGurus Trading Down 4.6 %

NASDAQ CARG opened at $24.33 on Friday. The company has a fifty day simple moving average of $24.34 and a two-hundred day simple moving average of $23.57. The stock has a market cap of $2.53 billion, a P/E ratio of 86.89, a P/E/G ratio of 1.48 and a beta of 1.57. CarGurus, Inc. has a 12-month low of $16.70 and a 12-month high of $26.90.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. As a group, sell-side analysts forecast that CarGurus, Inc. will post 0.98 earnings per share for the current year.

CarGurus Company Profile

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.