CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,315 shares of the company’s stock after selling 520 shares during the period. Gotham Asset Management LLC’s holdings in CarGurus were worth $304,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CARG. Ethic Inc. acquired a new position in CarGurus in the fourth quarter worth approximately $573,000. Clark Capital Management Group Inc. grew its holdings in shares of CarGurus by 150.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 162,720 shares of the company’s stock valued at $5,946,000 after acquiring an additional 97,798 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of CarGurus by 56.6% in the 4th quarter. Deutsche Bank AG now owns 87,510 shares of the company’s stock valued at $3,198,000 after purchasing an additional 31,636 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of CarGurus by 96.1% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 191,140 shares of the company’s stock valued at $6,984,000 after purchasing an additional 93,646 shares during the last quarter. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of CarGurus in the 4th quarter valued at $4,933,000. Institutional investors own 86.90% of the company’s stock.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. This trade represents a 2.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,824 shares of company stock worth $907,856. Corporate insiders own 16.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CARG shares. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. JMP Securities lowered 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. Oppenheimer decreased their price objective 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. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, Needham & Company LLC reduced their target price on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 9th. Three 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $36.95.

CarGurus Stock Performance

Shares of CARG stock opened at $32.47 on Wednesday. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33. The firm’s 50 day moving average price is $28.95 and its two-hundred day moving average price is $33.80. The stock has a market cap of $3.39 billion, a PE ratio of 180.40, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analysts’ expectations of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.