CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP raised its stake in CarGurus, Inc. (NASDAQ:CARG) by 12.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,145,350 shares of the company’s stock after acquiring an additional 802,602 shares during the period. Wellington Management Group LLP owned 0.07% of CarGurus worth $261,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of brokerages have recently commented on CARG. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. cut CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.75.

Insider Buying and Selling

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction on Friday, January 17th. The stock was 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 owns 115,983 shares of the company’s stock, valued at $4,421,271.96. The trade was a 1.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,888 shares of company stock valued at $2,229,388. Corporate insiders own 17.20% of the company’s stock.

CarGurus Trading Up 0.4 %

NASDAQ CARG opened at $29.24 on Wednesday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 162.45, a PEG ratio of 1.72 and a beta of 1.52. The business’s 50 day moving average is $34.78 and its two-hundred day moving average is $34.38. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Equities analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.