Los Angeles Capital Management LLC Has $3.21 Million Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Los Angeles Capital Management LLC raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 36.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,862 shares of the company's stock after acquiring an additional 23,445 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.08% of CarGurus worth $3,210,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new position in CarGurus during the third quarter valued at approximately $28,000. Signaturefd LLC boosted its stake in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company's stock valued at $29,000 after buying an additional 430 shares during the period. Global Retirement Partners LLC grew its holdings in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock valued at $29,000 after acquiring an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after acquiring an additional 456 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CARG shares. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Royal Bank of Canada lifted their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research note on Monday, November 11th. Oppenheimer dropped their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. B. Riley lifted their price objective on shares of CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, Citigroup upgraded shares of CarGurus from a "hold" rating to a "strong-buy" rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $38.41.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 7,500 shares of the business's stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the sale, the chief operating officer now owns 434,821 shares in the company, valued at approximately $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock worth $2,204,338 in the last ninety days. Insiders own 17.20% of the company's stock.

CarGurus Trading Down 1.0 %

NASDAQ:CARG traded down $0.31 during mid-day trading on Monday, hitting $31.88. 1,878,462 shares of the company's stock traded hands, compared to its average volume of 997,361. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 177.12, a price-to-earnings-growth ratio of 1.72 and a beta of 1.59. The firm has a 50 day moving average of $37.25 and a two-hundred day moving average of $33.99. 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 data 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 net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. As a group, equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share 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.