12,146 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Xponance Inc.

Xponance Inc. bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,146 shares of the company's stock, valued at approximately $444,000.

Several other hedge funds also recently modified their holdings of CARG. Natixis Advisors LLC grew its position in CarGurus by 46.6% in the 3rd quarter. Natixis Advisors LLC now owns 23,248 shares of the company's stock worth $698,000 after purchasing an additional 7,393 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of CarGurus during the 3rd quarter valued at $673,000. Charles Schwab Investment Management Inc. raised its stake in shares of CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company's stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Citigroup Inc. boosted its holdings in shares of CarGurus by 31.0% in the 3rd quarter. Citigroup Inc. now owns 165,918 shares of the company's stock worth $4,983,000 after buying an additional 39,240 shares during the last quarter. Finally, Algert Global LLC grew its position in CarGurus by 914.0% during the third quarter. Algert Global LLC now owns 86,430 shares of the company's stock valued at $2,595,000 after buying an additional 77,906 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on CARG shares. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $42.00 to $34.00 in a research report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer lowered their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Finally, JMP Securities reiterated a "market outperform" rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.75.

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CarGurus Price Performance

CARG stock traded down $0.90 during mid-day trading on Friday, reaching $28.82. 1,714,054 shares of the company traded hands, compared to its average volume of 817,868. The company has a fifty day moving average price of $34.95 and a 200-day moving average price of $34.32. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The company has a market capitalization of $3.01 billion, a P/E ratio of 160.12, a P/E/G ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS 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 firm had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. As a group, analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares of the company's stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of CarGurus 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 transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,888 shares of company stock valued at $2,229,388. 17.20% of the stock is currently owned by company insiders.

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.