Russell Investments Group Ltd. Increases Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Russell Investments Group Ltd. grew its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 22.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,660 shares of the company's stock after purchasing an additional 18,989 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.10% of CarGurus worth $3,825,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after buying an additional 957,035 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of CarGurus by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after purchasing an additional 802,602 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of CarGurus in the 4th quarter valued at about $19,465,000. Norges Bank acquired a new position in CarGurus in the 4th quarter worth about $14,369,000. Finally, Loomis Sayles & Co. L P boosted its position in CarGurus by 35.1% during the fourth quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company's stock worth $34,603,000 after purchasing an additional 245,919 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CARG shares. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 target price on shares of CarGurus in a research note on Friday, February 21st. UBS Group reduced their price objective on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating for the company in a research report on Thursday, April 10th. Oppenheimer decreased their price objective 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. JMP Securities cut their target price on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, CarGurus presently has an average rating of "Moderate Buy" and a consensus price target of $37.14.

CarGurus Stock Down 1.4 %

CARG traded down $0.37 during trading on Monday, reaching $26.24. The company's stock had a trading volume of 570,657 shares, compared to its average volume of 858,786. The firm has a fifty day simple moving average of $30.55 and a two-hundred day simple moving average of $34.02. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 145.79, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33.

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

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 40,000 shares of company stock valued at $1,343,400. 17.20% of the stock is owned by company insiders.

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.