Wellington Management Group LLP Buys 802,602 Shares of CarGurus, Inc. (NASDAQ:CARG)

Wellington Management Group LLP raised its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,145,350 shares of the company's stock after buying an additional 802,602 shares during the quarter. Wellington Management Group LLP owned 6.84% of CarGurus worth $261,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in CARG. Charles Schwab Investment Management Inc. raised its holdings in CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company's stock worth $31,328,000 after purchasing an additional 89,815 shares during the period. Citigroup Inc. raised its stake in CarGurus by 31.0% during the 3rd quarter. Citigroup Inc. now owns 165,918 shares of the company's stock worth $4,983,000 after buying an additional 39,240 shares during the period. FMR LLC raised its stake in CarGurus by 91.1% during the 3rd quarter. FMR LLC now owns 13,840 shares of the company's stock worth $416,000 after buying an additional 6,599 shares during the period. BNP Paribas Financial Markets lifted its holdings in CarGurus by 69.8% during the third quarter. BNP Paribas Financial Markets now owns 76,485 shares of the company's stock worth $2,297,000 after acquiring an additional 31,451 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in CarGurus by 177.0% in the third quarter. Verition Fund Management LLC now owns 42,262 shares of the company's stock valued at $1,269,000 after acquiring an additional 27,005 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

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CarGurus Price Performance

NASDAQ:CARG traded down $2.29 on Thursday, hitting $27.22. 1,330,981 shares of the company's stock were exchanged, compared to its average volume of 827,038. The firm has a 50-day moving average price of $34.17 and a 200-day moving average price of $34.30. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The company has a market cap of $2.84 billion, a P/E ratio of 151.23, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG - Get Free Report) last released 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 company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. On average, research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. 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 reiterated a "buy" rating and issued a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, JMP Securities reissued a "market outperform" rating and set 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, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, CarGurus currently has a consensus rating of "Moderate Buy" and an average price target of $38.75.

Insider Transactions at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction 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. The trade was a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the company'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 value of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares in the company, valued at $4,421,271.96. This represents a 1.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,031 shares of company stock worth $1,868,424 in the last 90 days. Corporate insiders own 17.20% of the company's stock.

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.