CarGurus, Inc. (NASDAQ:CARG) Position Increased by Inceptionr LLC

Inceptionr LLC raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,165 shares of the company’s stock after buying an additional 813 shares during the period. Inceptionr LLC’s holdings in CarGurus were worth $481,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in CarGurus by 4.8% during the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after buying an additional 151,862 shares in the last quarter. Geode Capital Management LLC boosted its holdings in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after buying an additional 74,730 shares in the last quarter. Prevatt Capital Ltd boosted its holdings in CarGurus by 7.0% during the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after buying an additional 80,000 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company’s stock worth $39,237,000 after purchasing an additional 30,593 shares during the period. Finally, Loomis Sayles & Co. L P acquired a new position in CarGurus in the 3rd quarter worth approximately $21,052,000. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Samuel Zales sold 20,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Dafna Sarnoff sold 10,570 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares in the company, valued at $3,408,438.58. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,388 shares of company stock worth $2,204,338. 17.20% of the stock is owned by corporate insiders.

CarGurus Stock Up 1.9 %

CARG stock opened at $31.65 on Friday. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 175.84, a PEG ratio of 1.72 and a beta of 1.52. The company has a 50 day moving average of $36.77 and a two-hundred day moving average of $34.03.

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 analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. On average, research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. raised 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Royal Bank of Canada raised their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Finally, Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.41.

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.