Quantbot Technologies LP Buys Shares of 13,050 CarGurus, Inc. (NASDAQ:CARG)

Quantbot Technologies LP bought a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,050 shares of the company's stock, valued at approximately $477,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CARG. Summit Global Investments bought a new position in shares of CarGurus during the fourth quarter valued at about $1,150,000. Semanteon Capital Management LP purchased a new stake in CarGurus during the 4th quarter valued at about $542,000. Magnetar Financial LLC bought a new position in CarGurus during the 4th quarter worth approximately $265,000. Teacher Retirement System of Texas increased its stake in CarGurus by 546.3% in the 4th quarter. Teacher Retirement System of Texas now owns 128,691 shares of the company's stock worth $4,702,000 after purchasing an additional 108,778 shares during the period. Finally, Xponance Inc. purchased a new position in CarGurus in the 4th quarter worth approximately $444,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CARG shares. Oppenheimer cut their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities reissued a "market outperform" rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, CarGurus presently has a consensus rating of "Moderate Buy" and an average price target of $38.75.

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Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 4,678 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 $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares of the company's stock, valued at $7,005,545.10. The trade was a 2.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock valued at $2,229,388 over the last quarter. Corporate insiders own 17.20% of the company's stock.

CarGurus Trading Up 0.9 %

CarGurus stock traded up $0.27 during trading hours on Wednesday, hitting $29.51. 1,376,925 shares of the stock traded hands, compared to its average volume of 824,829. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The firm's 50-day moving average price is $34.41 and its two-hundred day moving average price is $34.35. The company has a market cap of $3.08 billion, a PE ratio of 163.95, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data 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 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, sell-side analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.