CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its stake in CarGurus, Inc. (NASDAQ:CARG) by 44.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 121,474 shares of the company’s stock after selling 95,279 shares during the quarter. Alliancebernstein L.P. owned about 0.12% of CarGurus worth $4,439,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock worth $261,091,000 after purchasing an additional 802,602 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in CarGurus by 168.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after purchasing an additional 957,035 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of CarGurus by 9.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,048 shares of the company’s stock worth $404,000 after buying an additional 930 shares during the period. Norges Bank purchased a new stake in shares of CarGurus in the 4th quarter valued at $14,369,000. Finally, Loomis Sayles & Co. L P lifted its stake in CarGurus by 35.1% during the 4th quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company’s stock worth $34,603,000 after acquiring an additional 245,919 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on CARG shares. Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note 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 on the stock in a research note on Wednesday, April 9th. UBS Group decreased their price target on shares of CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered 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 report on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

CarGurus Trading Up 1.6 %

Shares of CarGurus stock opened at $27.00 on Monday. The company has a fifty day simple moving average of $32.09 and a 200-day simple moving average of $34.14. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 150.01, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last released 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 during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,203 shares of company stock worth $1,158,978 in the last 90 days. Company insiders own 17.20% of the company’s stock.

CarGurus 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.