CarGurus, Inc. (NASDAQ:CARG) Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC lowered its stake in CarGurus, Inc. (NASDAQ:CARG) by 81.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,849 shares of the company’s stock after selling 34,504 shares during the period. SG Americas Securities LLC’s holdings in CarGurus were worth $190,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Exchange Traded Concepts LLC bought a new position in shares of CarGurus in the third quarter valued at $30,000. First Horizon Advisors Inc. increased its holdings in shares of CarGurus by 56.8% in the first quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock valued at $33,000 after buying an additional 631 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of CarGurus in the third quarter valued at $32,000. Coppell Advisory Solutions LLC bought a new position in shares of CarGurus in the second quarter valued at $48,000. Finally, Quarry LP increased its holdings in shares of CarGurus by 32.5% in the first quarter. Quarry LP now owns 2,269 shares of the company’s stock valued at $42,000 after buying an additional 556 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC upped their price target on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, UBS Group boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Friday, March 15th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.90.

CarGurus Trading Down 2.3 %

Shares of NASDAQ:CARG opened at $22.36 on Friday. The stock has a market capitalization of $2.40 billion, a PE ratio of 124.22, a P/E/G ratio of 1.39 and a beta of 1.58. CarGurus, Inc. has a 1 year low of $15.34 and a 1 year high of $24.64. The firm has a fifty day moving average price of $23.07 and a 200 day moving average price of $21.66.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million during the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. CarGurus’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that CarGurus, Inc. will post 0.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the completion of the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other CarGurus news, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the completion of the transaction, the insider now owns 117,432 shares of the company’s stock, valued at approximately $2,598,770.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the transaction, the chief marketing officer now directly owns 163,798 shares of the company’s stock, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. Insiders sold a total of 96,125 shares of company stock valued at $2,144,894 in the last quarter. Insiders own 15.70% of the company’s stock.

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.