44,643 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,643 shares of the company's stock, valued at approximately $1,631,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in CarGurus by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after buying an additional 225,430 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after acquiring an additional 802,602 shares during the period. State Street Corp grew its holdings in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock worth $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Geode Capital Management LLC increased its position in shares of CarGurus by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company's stock worth $61,728,000 after purchasing an additional 74,730 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake 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 purchasing an additional 957,035 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on CARG shares. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of CarGurus in a 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. 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. Finally, JPMorgan Chase & Co. downgraded CarGurus from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $38.75.

CarGurus Trading Down 3.4 %

CARG stock traded down $0.93 during mid-day trading on Friday, reaching $26.29. The company's stock had a trading volume of 1,486,074 shares, compared to its average volume of 830,371. The business's 50 day moving average price is $33.92 and its 200 day moving average price is $34.28. The company has a market cap 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, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 EPS 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 company had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the sale, 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 SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 20,000 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,203 shares of company stock worth $1,158,978 in the last three months. Company insiders own 17.20% of the company's stock.

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.