Trexquant Investment LP Buys 122,115 Shares of CarGurus, Inc. (NASDAQ:CARG)

Trexquant Investment LP increased its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 73.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,277 shares of the company's stock after purchasing an additional 122,115 shares during the quarter. Trexquant Investment LP owned approximately 0.28% of CarGurus worth $10,534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in CarGurus by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after buying an additional 225,430 shares during the period. Wellington Management Group LLP boosted its holdings in CarGurus by 12.7% in the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after acquiring an additional 802,602 shares in the last quarter. State Street Corp increased its position in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company's stock valued at $99,066,000 after purchasing an additional 151,862 shares during the period. Geode Capital Management LLC lifted its position in shares of CarGurus by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company's stock worth $61,728,000 after purchasing an additional 74,730 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after purchasing an additional 957,035 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

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Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares of the company's stock, valued at $4,421,271.96. This represents a 1.86 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total value of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares of the company's stock, valued at $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,203 shares of company stock worth $1,158,978 in the last 90 days. 17.20% of the stock is currently owned by corporate insiders.

CarGurus Price Performance

Shares of NASDAQ:CARG traded down $0.06 during trading on Monday, hitting $26.23. 525,057 shares of the company's stock were exchanged, compared to its average volume of 830,189. The business's 50-day simple moving average is $33.92 and its 200 day simple moving average is $34.34. The company has a market cap of $2.74 billion, a price-to-earnings ratio of 144.49, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 52-week low of $14.00 and a 52-week high of $41.33.

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 company had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. On average, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CARG. 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 report on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. JMP Securities reissued a "market outperform" rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, CarGurus has an average rating of "Moderate Buy" and a consensus target price of $38.75.

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.