Grantham Mayo Van Otterloo & Co. LLC Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Grantham Mayo Van Otterloo & Co. LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 17,099 shares of the company's stock, valued at approximately $625,000.

Other hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in CarGurus by 12.8% in the 4th quarter. Wells Fargo & Company MN now owns 221,857 shares of the company's stock worth $8,107,000 after purchasing an additional 25,157 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of CarGurus during the fourth quarter worth about $307,000. Bryce Point Capital LLC acquired a new stake in CarGurus in the 4th quarter valued at approximately $1,631,000. Trexquant Investment LP grew its stake in shares of CarGurus by 73.5% during the 4th quarter. Trexquant Investment LP now owns 288,277 shares of the company's stock worth $10,534,000 after acquiring an additional 122,115 shares in the last quarter. Finally, Scalar Gauge Management LLC bought a new stake in shares of CarGurus in the fourth quarter worth $4,019,000. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Trading Up 0.0 %

NASDAQ CARG traded up $0.01 during midday trading on Monday, hitting $27.01. The company had a trading volume of 180,256 shares, compared to its average volume of 853,035. The company has a market capitalization of $2.82 billion, a PE ratio of 150.06, a P/E/G ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The firm has a 50-day moving average price of $32.09 and a 200-day moving average price of $34.14.

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

Analysts Set New Price Targets

CARG has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. JMP Securities dropped their target price 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 lowered their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Finally, UBS Group decreased their target price on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.14.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares of the company's stock, 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 filing with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 20,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares of the company's stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,203 shares of company stock valued at $1,158,978. 17.20% of the stock is currently owned by insiders.

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.