CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its holdings in CarGurus, Inc. (NASDAQ:CARG) by 43.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 180,004 shares of the company’s stock after selling 137,708 shares during the period. Millennium Management LLC owned approximately 0.17% of CarGurus worth $4,716,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CARG. CWM LLC increased its holdings in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares during the period. Headlands Technologies LLC acquired a new position in CarGurus during the 1st quarter worth $49,000. GAMMA Investing LLC grew its stake in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in CarGurus during the 2nd quarter worth $87,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Price Performance

CARG opened at $30.89 on Friday. The stock has a market cap of $3.22 billion, a P/E ratio of 110.32, a P/E/G ratio of 1.48 and a beta of 1.56. The stock’s 50 day simple moving average is $28.34 and its 200 day simple moving average is $25.62. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $31.01.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. Research analysts expect that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson reissued a “neutral” rating and set a $26.50 target price on shares of CarGurus in a research note on Tuesday, September 10th. BTIG Research boosted their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. upped their price objective on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of CarGurus in a research report on Monday, September 9th. Finally, Needham & Company LLC boosted their target price on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, CarGurus presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.35.

Insider Transactions at CarGurus

In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $28.34, for a total transaction of $713,261.12. Following the sale, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CMO Dafna Sarnoff sold 4,127 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total value of $123,562.38. Following the completion of the sale, the chief marketing officer now owns 119,330 shares of the company’s stock, valued at $3,572,740.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock worth $1,694,683 over the last quarter. 17.20% of the stock is currently owned by insiders.

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.