Semanteon Capital Management LP Takes $542,000 Position in CarGurus, Inc. (NASDAQ:CARG)

Semanteon Capital Management LP bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 14,820 shares of the company’s stock, valued at approximately $542,000.

Several other hedge funds and other institutional investors have also modified their holdings of CARG. Louisiana State Employees Retirement System boosted its holdings in CarGurus by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock valued at $1,553,000 after purchasing an additional 300 shares during the period. Principal Securities Inc. raised its position in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares in the last quarter. Fifth Third Bancorp raised its position in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company’s stock valued at $281,000 after buying an additional 475 shares in the last quarter. Finally, Point72 DIFC Ltd raised its position in shares of CarGurus by 15.2% in the 3rd quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock valued at $115,000 after buying an additional 504 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

CARG stock opened at $30.11 on Friday. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The company has a 50 day simple moving average of $35.58 and a 200 day simple moving average of $34.17. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results 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 net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $167,378.84. Following the sale, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. This represents a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total transaction of $360,963.34. Following the completion of the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at approximately $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,888 shares of company stock worth $2,229,388. 17.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CARG shares. Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Buy” and an average price target of $39.55.

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.