Bridgewater Associates LP Reduces Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Bridgewater Associates LP cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 56.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,678 shares of the company’s stock after selling 38,322 shares during the period. Bridgewater Associates LP’s holdings in CarGurus were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Global Retirement Partners LLC increased its position in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp increased its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the period. USA Financial Formulas purchased a new position in shares of CarGurus in the fourth quarter worth approximately $35,000. Finally, R Squared Ltd bought a new stake in CarGurus during the fourth quarter valued at approximately $77,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JMP Securities decreased their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Oppenheimer cut their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. UBS Group decreased their price objective on CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.14.

Insider Activity

In other CarGurus news, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 40,000 shares of company stock valued at $1,343,400. 17.20% of the stock is currently owned by insiders.

CarGurus Stock Down 0.4 %

Shares of CarGurus stock opened at $26.61 on Friday. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 147.84, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a twelve month low of $21.55 and a twelve month high of $41.33. The business has a 50-day moving average price of $31.07 and a 200-day moving average price of $34.00.

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 analysts’ consensus estimates of $0.50 by ($0.06). The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, equities analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal 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.