Versor Investments LP Sells 17,182 Shares of CarGurus, Inc. (NASDAQ:CARG)

Versor Investments LP decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 63.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,718 shares of the company's stock after selling 17,182 shares during the period. Versor Investments LP's holdings in CarGurus were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P acquired a new position in CarGurus during the 3rd quarter worth $21,052,000. State Street Corp lifted its stake in shares of CarGurus by 4.8% in 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. Barclays PLC lifted its stake in shares of CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after purchasing an additional 121,341 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of CarGurus in the 4th quarter valued at $3,852,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company's stock valued at $31,328,000 after purchasing an additional 89,815 shares during the period. Institutional investors own 86.90% of the company's stock.

Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now directly owns 115,983 shares of the company's stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 7,500 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $37.70, for a total transaction of $282,750.00. Following the transaction, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,388 shares of company stock worth $2,204,338 over the last three months. Insiders own 17.20% of the company's stock.

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Analyst Ratings Changes

CARG has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on CarGurus from $40.00 to $42.00 and gave the company an "overweight" rating in a research note on Friday, February 21st. B. Riley increased their price target on CarGurus from $30.00 to $40.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Needham & Company LLC reissued a "buy" rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Royal Bank of Canada upped their price objective on shares of CarGurus from $30.00 to $42.00 and gave the company an "outperform" rating in a research report on Monday, November 11th. Finally, JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $38.41.

CarGurus Trading Down 3.6 %

CARG stock traded down $1.16 during mid-day trading on Thursday, hitting $31.30. 502,819 shares of the company were exchanged, compared to its average volume of 1,013,024. The business has a 50 day simple moving average of $36.99 and a 200-day simple moving average of $34.03. The stock has a market capitalization of $3.27 billion, a PE ratio of 173.89, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current 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.