Proficio Capital Partners LLC Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Proficio Capital Partners LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,231 shares of the company's stock, valued at approximately $374,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd purchased a new position in shares of CarGurus in the third quarter worth about $28,000. Global Retirement Partners LLC raised its holdings 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 acquiring an additional 532 shares during the last quarter. Fifth Third Bancorp lifted its stake in CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of 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 acquired a new position in shares of CarGurus during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on CARG. Oppenheimer reduced their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. JMP Securities reiterated a "market outperform" rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reissued a "buy" rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $42.00 to $34.00 in a research report on Thursday. Two investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.75.

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Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the sale, the chief operating officer now owns 400,025 shares in the company, valued at $15,344,959. This represents a 4.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now owns 120,051 shares of the company's stock, valued at $4,295,424.78. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,888 shares of company stock worth $2,229,388. Corporate insiders own 17.20% of the company's stock.

CarGurus Stock Down 3.0 %

NASDAQ:CARG traded down $0.90 during trading hours on Friday, reaching $28.82. 1,714,054 shares of the stock were exchanged, compared to its average volume of 817,868. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The business has a 50-day moving average of $34.95 and a two-hundred day moving average of $34.32. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 160.12, a PEG 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%. On average, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

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.