Blueshift Asset Management LLC Has $247,000 Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Blueshift Asset Management LLC trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 26.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,748 shares of the company’s stock after selling 2,428 shares during the period. Blueshift Asset Management LLC’s holdings in CarGurus were worth $247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in shares of CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in shares of CarGurus during the 3rd quarter worth about $28,000. Principal Securities Inc. boosted its stake in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter valued at about $35,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Price Performance

Shares of CarGurus stock opened at $30.11 on Friday. The company has a market cap of $3.14 billion, a PE ratio of 167.29, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The firm has a fifty day moving average price of $35.58 and a two-hundred day moving average price of $34.17. CarGurus, Inc. has a fifty-two week low of $21.18 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG) last released its 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 company had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. Analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. 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. JPMorgan Chase & Co. boosted their price objective on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $39.55.

Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the transaction, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,888 shares of company stock worth $2,229,388. 17.20% of the stock is currently owned by company insiders.

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.