3,500 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,500 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning increased its position in shares of CarGurus by 152.3% during the third quarter. Creative Planning now owns 25,391 shares of the company’s stock valued at $762,000 after buying an additional 15,328 shares during the period. Signaturefd LLC boosted its position in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of CarGurus by 5.0% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company’s stock worth $365,000 after acquiring an additional 584 shares during the period. Assenagon Asset Management S.A. raised its position in shares of CarGurus by 629.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after acquiring an additional 321,318 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its position in shares of CarGurus by 6.8% in the 3rd quarter. Louisiana State Employees Retirement System now owns 42,200 shares of the company’s stock worth $1,267,000 after acquiring an additional 2,700 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CARG. DA Davidson lifted their price target on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. JMP Securities restated a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. B. Riley increased their price target on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday. Finally, JPMorgan Chase & Co. upped their price objective on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday. Two research analysts have 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 presently has an average rating of “Moderate Buy” and a consensus price target of $38.59.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $31.15 on Friday. The firm’s 50 day moving average price is $37.81 and its 200-day moving average price is $33.67. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The company has a market cap of $3.23 billion, a PE ratio of -67.72, a P/E/G ratio of 1.74 and a beta of 1.59.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a negative net margin of 5.47% and a positive return on equity of 13.96%. The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. On average, analysts forecast that CarGurus, Inc. will post 1.25 earnings per share for the current fiscal year.

Insider Activity

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 7,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,388 shares of company stock valued at $2,204,338 over the last ninety days. 17.20% of the stock is currently owned by corporate insiders.

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.