Proficio Capital Partners LLC Buys New Position in CarGurus, Inc. (NASDAQ:CARG)

Proficio Capital Partners LLC bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,231 shares of the company's stock, valued at approximately $374,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd acquired a new position in shares of CarGurus in the 3rd quarter worth approximately $28,000. Global Retirement Partners LLC lifted its position in shares of CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp lifted its position in shares of 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 during the period. Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% in 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 period. Finally, USA Financial Formulas acquired a new position in shares of CarGurus in the 4th quarter worth approximately $35,000. 86.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CARG. JMP Securities reiterated a "market outperform" rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Oppenheimer dropped their target price on shares of 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 reiterated a "buy" rating and set a $45.00 target price on shares of CarGurus in a research report 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. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, CarGurus has an average rating of "Moderate Buy" and an average price target of $38.41.

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Insider Activity at CarGurus

In related news, COO Samuel Zales sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the company's stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the sale, the chief executive officer now directly owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,388 shares of company stock worth $2,204,338. 17.20% of the stock is owned by company insiders.

CarGurus Stock Down 3.3 %

CARG stock traded down $1.04 during midday trading on Thursday, reaching $30.14. 1,410,570 shares of the company's stock traded hands, compared to its average volume of 1,066,656. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 167.45, a P/E/G ratio of 1.72 and a beta of 1.52. The firm's fifty day moving average price is $36.44 and its 200-day moving average price is $34.13. CarGurus, Inc. has a 52 week low of $21.18 and a 52 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. Analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

About CarGurus

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.