Arrowstreet Capital Limited Partnership Grows Stake in CarGurus, Inc. (NASDAQ:CARG)

Arrowstreet Capital Limited Partnership boosted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 168.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,524,478 shares of the company's stock after buying an additional 957,035 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.47% of CarGurus worth $55,704,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus during the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC boosted its position in CarGurus by 198.5% during the fourth 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 boosted its position in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. grew its holdings in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas purchased a new position in shares of CarGurus in the fourth quarter valued at $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now directly owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the business's stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 32,203 shares of company stock valued at $1,158,978. Insiders own 17.20% of the company's stock.

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CarGurus Trading Down 3.4 %

Shares of CarGurus stock traded down $0.93 during trading hours on Friday, reaching $26.29. 1,486,074 shares of the company's stock were exchanged, compared to its average volume of 831,322. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The company has a fifty day moving average of $33.92 and a 200-day moving average of $34.34. The firm has a market capitalization of $2.75 billion, a price-to-earnings ratio of 146.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results 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 return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CARG shares. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. 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 restated a "market outperform" rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, CarGurus presently has an average rating of "Moderate Buy" and an average price target of $38.75.

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.