Inflection Point Investments LLP Sells 60,549 Shares of CarGurus, Inc. (NASDAQ:CARG)

Inflection Point Investments LLP reduced its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 18.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 268,824 shares of the company's stock after selling 60,549 shares during the quarter. CarGurus accounts for approximately 13.4% of Inflection Point Investments LLP's investment portfolio, making the stock its 3rd biggest holding. Inflection Point Investments LLP owned approximately 0.26% of CarGurus worth $9,823,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. increased its stake in CarGurus by 4.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after acquiring an additional 423 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of CarGurus during the 4th quarter worth about $19,465,000. Renaissance Technologies LLC raised its holdings in CarGurus by 500.1% in the 4th quarter. Renaissance Technologies LLC now owns 139,827 shares of the company's stock valued at $5,109,000 after buying an additional 116,527 shares during the period. Invesco Ltd. lifted its position in CarGurus by 22.2% in the fourth quarter. Invesco Ltd. now owns 364,793 shares of the company's stock valued at $13,330,000 after buying an additional 66,176 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of CarGurus by 7.0% during the fourth quarter. Bank of Montreal Can now owns 20,252 shares of the company's stock valued at $740,000 after acquiring an additional 1,317 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Monday, March 17th. The shares were 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 directly owns 390,025 shares of the company's stock, valued at $12,004,969.50. This represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 40,000 shares of company stock valued at $1,343,400 over the last three months. 17.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CARG shares. UBS Group decreased their price objective on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Needham & Company LLC reissued a "buy" rating and set a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. JMP Securities reduced their price target 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. Oppenheimer lowered their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.14.

CarGurus Stock Down 0.4 %

NASDAQ:CARG traded down $0.11 during mid-day trading on Friday, reaching $26.61. 960,784 shares of the stock were exchanged, compared to its average volume of 859,214. The stock has a market capitalization of $2.78 billion, a P/E ratio of 147.84, a P/E/G ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 1 year low of $21.55 and a 1 year high of $41.33. The company has a 50 day simple moving average of $31.07 and a 200-day simple moving average of $34.00.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its 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). The business had revenue of $228.54 million during the quarter, compared to analysts' expectations of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

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.