16,700 Shares in CarGurus, Inc. (NASDAQ:CARG) Purchased by Susquehanna Fundamental Investments LLC

Susquehanna Fundamental Investments LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 16,700 shares of the company’s stock, valued at approximately $610,000.

Several other institutional investors have also recently bought and sold shares of CARG. Global Retirement Partners LLC raised its holdings in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp increased its stake in 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 during the last quarter. Principal Securities Inc. lifted its position in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares in the last quarter. USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter worth about $35,000. Finally, GeoWealth Management LLC bought a new position in shares of CarGurus in the 4th quarter valued at about $49,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on CARG shares. UBS Group reduced their price target on CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday, April 10th. JMP Securities lowered their target price on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Oppenheimer dropped their price target on shares of 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. downgraded shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.14.

CarGurus Stock Up 1.0 %

Shares of CARG stock opened at $28.19 on Friday. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm has a 50 day moving average price of $29.03 and a two-hundred day moving average price of $33.84. The company has a market capitalization of $2.94 billion, a PE ratio of 156.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last released 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). The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,824 shares of company stock worth $1,392,156 in the last quarter. 17.20% of the stock is currently 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.