Trexquant Investment LP Purchases 122,115 Shares of CarGurus, Inc. (NASDAQ:CARG)

Trexquant Investment LP boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 73.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 288,277 shares of the company’s stock after buying an additional 122,115 shares during the quarter. Trexquant Investment LP’s holdings in CarGurus were worth $10,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in shares of CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after acquiring an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of CarGurus by 36.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after purchasing an additional 23,445 shares during the last quarter. State Street Corp boosted its position in shares of CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after buying an additional 89,815 shares during the last quarter. Finally, Summit Global Investments bought a new position in CarGurus during the 4th quarter valued at approximately $1,150,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Up 0.9 %

Shares of CARG stock opened at $29.51 on Thursday. The firm has a market capitalization of $3.08 billion, a PE ratio of 163.95, a P/E/G ratio of 1.72 and a beta of 1.46. The company has a 50 day moving average price of $34.41 and a 200-day moving average price of $34.35. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. Analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Matthew Todd Quinn sold 4,678 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 52,031 shares of company stock valued at $1,868,424. Insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CARG. Needham & Company LLC reissued a “buy” rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. Oppenheimer dropped 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. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.75.

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.