Barclays PLC Boosts Stake in CarGurus, Inc. (NASDAQ:CARG)

Barclays PLC raised its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 24.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 211,451 shares of the company's stock after purchasing an additional 41,990 shares during the quarter. Barclays PLC owned 0.20% of CarGurus worth $7,726,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its holdings in CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after buying an additional 957,035 shares during the period. Wellington Management Group LLP increased its position in shares of CarGurus by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after acquiring an additional 802,602 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of CarGurus during the 4th quarter valued at $19,465,000. Norges Bank purchased a new position in CarGurus in the fourth quarter valued at about $14,369,000. Finally, Loomis Sayles & Co. L P boosted its holdings in CarGurus by 35.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company's stock worth $34,603,000 after acquiring an additional 245,919 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Trading Up 2.8 %

Shares of NASDAQ CARG opened at $27.77 on Thursday. The business has a 50 day simple moving average of $30.29 and a 200-day simple moving average of $33.97. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 154.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates 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 analyst estimates of $231.72 million. As a group, equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. UBS Group decreased their price objective on shares of 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 dropped their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, Oppenheimer lowered their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Three equities research 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 stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.14.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now directly owns 400,025 shares of the company's stock, valued at $15,344,959. The trade was a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, 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 a total of 41,824 shares of company stock worth $1,392,156 over the last ninety days. Company insiders own 17.20% of the company's stock.

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.

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