CarGurus, Inc. (NASDAQ:CARG) Shares Sold by CenterBook Partners LP

CenterBook Partners LP cut its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,215 shares of the company's stock after selling 63,561 shares during the quarter. CenterBook Partners LP owned approximately 0.11% of CarGurus worth $4,320,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new stake in shares of CarGurus during the fourth quarter valued at approximately $19,465,000. Renaissance Technologies LLC raised its stake in CarGurus by 500.1% during 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 last quarter. Invesco Ltd. boosted its position in CarGurus by 22.2% in the fourth quarter. Invesco Ltd. now owns 364,793 shares of the company's stock worth $13,330,000 after purchasing an additional 66,176 shares during the last quarter. Bank of Montreal Can raised its position in CarGurus by 7.0% in the fourth quarter. Bank of Montreal Can now owns 20,252 shares of the company's stock worth $740,000 after acquiring an additional 1,317 shares during the period. Finally, Polymer Capital Management US LLC bought a new position in shares of CarGurus in the fourth quarter worth about $304,000. 86.90% of the stock is owned by institutional investors.

CarGurus Price Performance

Shares of NASDAQ CARG traded up $0.22 during trading on Tuesday, hitting $27.22. 168,687 shares of the company were exchanged, compared to its average volume of 853,471. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33. The firm's fifty day moving average price is $31.83 and its 200 day moving average price is $34.12. The company has a market cap of $2.84 billion, a price-to-earnings ratio of 151.23, a PEG ratio of 1.72 and a beta of 1.46.

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CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly 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). 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 analysts' expectations of $231.72 million. On average, research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of research analyst reports. Needham & Company LLC restated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. JMP Securities cut their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Oppenheimer decreased their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, UBS Group decreased their target price on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $37.14.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the company's 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 transaction, the chief executive officer now directly owns 115,983 shares in the company, valued at approximately $4,421,271.96. This represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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 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.