Cookson Peirce & Co. Inc. Raises Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Cookson Peirce & Co. Inc. raised its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 59.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,376 shares of the company's stock after purchasing an additional 7,982 shares during the period. Cookson Peirce & Co. Inc.'s holdings in CarGurus were worth $781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. State Street Corp increased its stake in shares of CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after buying an additional 151,862 shares during the period. Geode Capital Management LLC grew its holdings in CarGurus by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company's stock worth $61,728,000 after acquiring an additional 74,730 shares in the last quarter. Prevatt Capital Ltd increased its position in CarGurus by 7.0% during the 3rd quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company's stock valued at $36,937,000 after purchasing an additional 80,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after purchasing an additional 30,593 shares in the last quarter. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of CarGurus in the 3rd quarter worth approximately $21,052,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares of the company's stock, valued at $4,295,424.78. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the sale, the chief marketing officer now owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,388 shares of company stock worth $2,204,338. 17.20% of the stock is currently owned by insiders.

CarGurus Stock Performance

CARG stock traded up $0.60 during trading on Friday, reaching $31.65. The company had a trading volume of 1,216,728 shares, compared to its average volume of 1,034,442. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 175.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The firm has a 50-day simple moving average of $36.77 and a 200-day simple moving average of $34.03.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $228.54 million for 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%. Sell-side analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARG. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Citigroup raised shares of CarGurus from a "hold" rating to a "strong-buy" rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada raised their price target on shares of CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $38.41.

CarGurus Company 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.