CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 44.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 121,474 shares of the company's stock after selling 95,279 shares during the quarter. Alliancebernstein L.P. owned approximately 0.12% of CarGurus worth $4,439,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its stake in shares of CarGurus by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after buying an additional 300 shares during the period. Principal Securities Inc. grew its position in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after purchasing an additional 424 shares during the period. Fifth Third Bancorp raised its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of CarGurus by 6.6% during the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock worth $281,000 after purchasing an additional 475 shares during the last quarter. Finally, Hillsdale Investment Management Inc. lifted its stake in CarGurus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 133,450 shares of the company's stock valued at $4,876,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Trading Down 0.4 %

CarGurus stock traded down $0.11 during trading on Friday, hitting $26.61. The company had a trading volume of 960,784 shares, compared to its average volume of 859,214. The company's 50 day simple moving average is $31.07 and its 200-day simple moving average is $34.00. CarGurus, Inc. has a 1-year low of $21.55 and a 1-year high of $41.33. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of 147.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on CARG shares. UBS Group lowered their price target on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. Oppenheimer decreased 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. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. JMP Securities decreased their target price on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.14.

Insider Buying and Selling

In related news, COO Samuel Zales sold 20,000 shares of the business'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 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 through this hyperlink. Insiders have sold a total of 40,000 shares of company stock valued at $1,343,400 in the last ninety days. 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.