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

Globeflex Capital L P grew its stake in CarGurus, Inc. (NASDAQ:CARG) by 547.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 12,523 shares of the company’s stock after buying an additional 10,590 shares during the quarter. Globeflex Capital L P’s holdings in CarGurus were worth $458,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after buying an additional 34,555 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of CarGurus by 36.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after buying an additional 23,445 shares during the period. State Street Corp lifted its holdings in shares of CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after buying an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after buying an additional 89,815 shares during the period. Finally, Alpha DNA Investment Management LLC purchased a new position in shares of CarGurus in the 3rd quarter valued at about $503,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In related news, COO Samuel Zales sold 9,857 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now owns 120,051 shares in the company, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,388 shares of company stock worth $2,204,338 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

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

CarGurus Trading Up 2.1 %

NASDAQ:CARG opened at $30.78 on Friday. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The stock has a 50 day moving average of $36.23 and a two-hundred day moving average of $34.16. The firm has a market cap of $3.21 billion, a P/E ratio of 171.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results 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 company 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%. On average, research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

CarGurus Company 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.