AlphaQuest LLC Has $292,000 Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

AlphaQuest LLC boosted its stake in CarGurus, Inc. (NASDAQ:CARG) by 399,500.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,992 shares of the company’s stock after buying an additional 7,990 shares during the quarter. AlphaQuest LLC’s holdings in CarGurus were worth $292,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in CarGurus during the third quarter valued at $28,000. Global Retirement Partners LLC raised its stake in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp lifted its holdings 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 buying an additional 456 shares during the last quarter. Principal Securities Inc. grew 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 valued at $34,000 after buying an additional 424 shares in the last quarter. Finally, USA Financial Formulas bought a new stake in shares of CarGurus in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CARG shares. Oppenheimer reduced their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their price objective 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. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 7,500 shares of CarGurus stock in a transaction on Monday, December 16th. The shares were sold at an average price of $37.70, for a total transaction of $282,750.00. Following the sale, the chief operating officer now owns 434,821 shares in the company, valued at $16,392,751.70. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares in the company, valued at $4,295,424.78. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock worth $2,204,338 in the last ninety days. Insiders own 17.20% of the company’s stock.

CarGurus Stock Up 2.1 %

Shares of NASDAQ:CARG opened at $30.78 on Friday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of 171.01, a PEG ratio of 1.72 and a beta of 1.52. The business has a 50 day moving average price of $36.33 and a 200 day moving average price of $34.11. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data 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). 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 the consensus estimate of $231.72 million. Analysts anticipate that CarGurus, Inc. will post 1.41 EPS 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.