CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 46.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,878 shares of the company's stock after purchasing an additional 15,923 shares during the period. CarGurus comprises 0.2% of Counterpoint Mutual Funds LLC's investment portfolio, making the stock its 18th biggest position. Counterpoint Mutual Funds LLC's holdings in CarGurus were worth $1,823,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Principal Financial Group Inc. raised its position in shares of CarGurus by 1.4% in the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company's stock valued at $13,514,000 after buying an additional 6,186 shares during the last quarter. Atria Investments Inc acquired a new position in shares of CarGurus during the 3rd quarter worth approximately $247,000. Victory Capital Management Inc. boosted its holdings in shares of CarGurus by 45.5% during the 3rd quarter. Victory Capital Management Inc. now owns 94,939 shares of the company's stock worth $2,851,000 after purchasing an additional 29,674 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of CarGurus in the third quarter valued at approximately $608,000. Finally, KBC Group NV increased its holdings in shares of CarGurus by 34.0% in the third quarter. KBC Group NV now owns 3,397 shares of the company's stock valued at $102,000 after purchasing an additional 862 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares in the company, valued at approximately $3,408,438.58. This trade represents a 9.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 over the last 90 days. Corporate insiders own 17.20% of the company's stock.

CarGurus Stock Performance

Shares of CARG traded up $0.24 during midday trading on Friday, hitting $30.11. 2,002,591 shares of the stock were exchanged, compared to its average volume of 783,060. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The stock has a fifty day simple moving average of $35.69 and a 200 day simple moving average of $34.16. The firm has a market cap of $3.14 billion, a P/E ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The firm 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%. As a group, equities research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.