Point72 Asset Management L.P. Sells 2,067 Shares of CarGurus, Inc. (NASDAQ:CARG)

Point72 Asset Management L.P. cut its stake in CarGurus, Inc. (NASDAQ:CARG) by 5.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,433 shares of the company’s stock after selling 2,067 shares during the quarter. Point72 Asset Management L.P.’s holdings in CarGurus were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after purchasing an additional 34,555 shares during the last quarter. Los Angeles Capital Management LLC increased its stake in CarGurus by 36.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after buying an additional 23,445 shares during the last quarter. Summit Global Investments purchased a new stake in CarGurus in the 4th quarter valued at about $1,150,000. Cookson Peirce & Co. Inc. lifted its position in shares of CarGurus by 59.6% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company’s stock worth $781,000 after buying an additional 7,982 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of CarGurus by 4.8% in the 4th quarter. Principal Financial Group Inc. now owns 471,697 shares of the company’s stock worth $17,236,000 after buying an additional 21,682 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG stock opened at $31.56 on Thursday. The stock has a fifty day moving average of $28.97 and a 200-day moving average of $33.78. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33. The company has a market capitalization of $3.30 billion, a price-to-earnings ratio of 175.34, 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 the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company’s revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Equities analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CARG shares. 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. JMP Securities decreased their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. cut CarGurus from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. UBS Group boosted their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Finally, Needham & Company LLC decreased their price objective on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 9th. Three equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.95.

Insider Activity at CarGurus

In other CarGurus 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 transaction of $268,400.00. Following the sale, the chief operating officer now owns 503,382 shares of the company’s stock, valued at $13,510,772.88. The trade was a 1.95% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $48,755.52. Following the completion of the transaction, the chief executive officer now directly owns 129,790 shares of the company’s stock, valued at $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is owned by corporate 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.