8,117 Shares in CarGurus, Inc. (NASDAQ:CARG) Acquired by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 8,117 shares of the company's stock, valued at approximately $297,000.

Other large investors also recently modified their holdings of the company. Global Retirement Partners LLC grew its stake in CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock valued at $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp grew its position in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of CarGurus during the third quarter worth approximately $28,000. Principal Securities Inc. lifted its holdings in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas bought a new stake in CarGurus in the 4th quarter valued at $35,000. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 4,678 shares of the business'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 transaction of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,888 shares of company stock valued at $2,229,388 over the last 90 days. 17.20% of the stock is owned by insiders.

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CarGurus Trading Up 1.1 %

CarGurus stock traded up $0.35 during mid-day trading on Tuesday, reaching $31.75. The company had a trading volume of 1,059,222 shares, compared to its average volume of 783,959. The business has a fifty day simple moving average of $35.49 and a 200 day simple moving average of $34.28. The company has a market cap of $3.32 billion, a P/E ratio of 176.40, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CARG shares. JMP Securities reiterated a "market outperform" rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer dropped their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Needham & Company LLC reiterated a "buy" rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $39.55.

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.