CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 36.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 87,862 shares of the company’s stock after purchasing an additional 23,445 shares during the period. Los Angeles Capital Management LLC’s holdings in CarGurus were worth $3,210,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CARG. Global Retirement Partners LLC grew its position in shares of 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 buying an additional 532 shares in the last quarter. Fifth Third Bancorp grew its holdings in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the 3rd quarter valued at approximately $28,000. Principal Securities Inc. raised its holdings 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 purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of CarGurus in the 4th quarter valued at $35,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Down 1.5 %

CARG opened at $30.75 on Friday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The business has a 50 day moving average price of $37.43 and a two-hundred day moving average price of $33.90. The company has a market cap of $3.19 billion, a PE ratio of 170.84, a P/E/G ratio of 1.72 and a beta of 1.59.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, sell-side analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on CARG shares. DA Davidson increased their target price on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. B. Riley boosted their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $38.41.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Todd Quinn sold 4,678 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction on Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,388 shares of company stock valued at $2,204,338. 17.20% of the stock is owned by corporate 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.