BNP Paribas Financial Markets Sells 57,929 Shares of CarGurus, Inc. (NASDAQ:CARG)

BNP Paribas Financial Markets lowered its position in CarGurus, Inc. (NASDAQ:CARG) by 75.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,556 shares of the company’s stock after selling 57,929 shares during the period. BNP Paribas Financial Markets’ holdings in CarGurus were worth $678,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in CarGurus in the fourth quarter worth $220,000. Dakota Wealth Management acquired a new position in CarGurus during the fourth quarter worth $902,000. SG Americas Securities LLC increased its position in CarGurus by 146.3% during the fourth quarter. SG Americas Securities LLC now owns 17,303 shares of the company’s stock worth $632,000 after buying an additional 10,278 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in CarGurus by 10.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 9,244 shares of the company’s stock valued at $338,000 after buying an additional 845 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $42.00 price target on shares of CarGurus in a research note on Monday, May 12th. Oppenheimer reduced their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. UBS Group increased their price target on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, May 9th. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities decreased their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.95.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total value of $268,400.00. Following the sale, the chief operating officer now owns 503,382 shares in the company, valued at approximately $13,510,772.88. The trade was a 1.95% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, the chief executive officer now owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock worth $907,856 over the last 90 days. Corporate insiders own 16.99% of the company’s stock.

CarGurus Price Performance

Shares of CarGurus stock opened at $31.81 on Friday. The company has a market cap of $3.32 billion, a PE ratio of 176.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The firm has a fifty day moving average price of $28.98 and a two-hundred day moving average price of $33.79. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $225.16 million during the quarter, compared to analysts’ expectations of $226.72 million. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts expect 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.