Jane Street Group LLC Sells 195,267 Shares of CarGurus, Inc. (NASDAQ:CARG)

Jane Street Group LLC cut its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 77.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,885 shares of the company’s stock after selling 195,267 shares during the period. Jane Street Group LLC owned approximately 0.06% of CarGurus worth $2,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARG. Global Retirement Partners LLC boosted its stake in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares during the last quarter. Principal Securities Inc. boosted its stake in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares during the last quarter. USA Financial Formulas bought a new position in CarGurus during the fourth quarter valued at approximately $35,000. Finally, GeoWealth Management LLC bought a new position in CarGurus during the fourth quarter valued at approximately $49,000. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CARG shares. Oppenheimer dropped their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Needham & Company LLC lowered their price objective on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. JMP Securities lowered their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group raised their price objective on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.95.

CarGurus Trading Down 1.3%

NASDAQ:CARG opened at $32.46 on Friday. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 180.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The stock has a fifty day simple moving average of $28.89 and a 200-day simple moving average of $33.77.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, equities research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Transactions at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total value of $282,900.00. Following the transaction, the chief operating officer now owns 493,382 shares in the company, valued at approximately $13,957,776.78. This represents a 1.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is currently owned by insiders.

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.