CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Globeflex Capital L P

Globeflex Capital L P boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 547.9% during the fourth quarter, HoldingsChannel reports. The fund owned 12,523 shares of the company’s stock after buying an additional 10,590 shares during the period. Globeflex Capital L P’s holdings in CarGurus were worth $458,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC lifted its stake in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp lifted its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in CarGurus during the third quarter worth $28,000. Principal Securities Inc. lifted its stake in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in CarGurus during the fourth quarter worth $35,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on CARG. Needham & Company LLC restated a “buy” rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer cut their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their price objective 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 reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, CarGurus has a consensus rating of “Buy” and an average target price of $39.55.

Insider Activity at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the transaction, the chief technology officer now owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock valued at $2,204,338 over the last quarter. 17.20% of the stock is owned by insiders.

CarGurus Price Performance

NASDAQ:CARG opened at $30.78 on Friday. The firm has a market capitalization of $3.21 billion, a PE ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The business’s fifty day moving average price is $36.23 and its 200 day moving average price is $34.16. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business 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%. As a group, equities analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

CarGurus 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.