Bridgewater Associates LP Sells 38,322 Shares of CarGurus, Inc. (NASDAQ:CARG)

Bridgewater Associates LP reduced its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 56.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,678 shares of the company’s stock after selling 38,322 shares during the quarter. Bridgewater Associates LP’s holdings in CarGurus were worth $1,084,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FMR LLC lifted its position in CarGurus by 91.1% in the third quarter. FMR LLC now owns 13,840 shares of the company’s stock valued at $416,000 after purchasing an additional 6,599 shares during the last quarter. Barclays PLC grew its holdings in CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after acquiring an additional 121,341 shares during the last quarter. Geode Capital Management LLC increased its position in shares of CarGurus by 3.8% in the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after acquiring an additional 74,730 shares during the period. Franklin Resources Inc. raised its stake in shares of CarGurus by 0.8% during the third quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock valued at $8,150,000 after acquiring an additional 2,051 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of CarGurus by 1.4% during the third quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock worth $13,514,000 after purchasing an additional 6,186 shares during the period. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 40,000 shares of company stock worth $1,343,400 over the last 90 days. 17.20% of the stock is currently owned by insiders.

CarGurus Trading Down 0.4 %

Shares of NASDAQ:CARG opened at $26.61 on Friday. The stock has a fifty day simple moving average of $31.07 and a two-hundred day simple moving average of $34.00. CarGurus, Inc. has a 12-month low of $21.55 and a 12-month high of $41.33. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 147.84, a PEG ratio of 1.72 and a beta of 1.46.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. As a group, equities research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. UBS Group reduced their price objective on shares of CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. Oppenheimer cut their target price 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. JMP Securities decreased their price target on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Finally, JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.14.

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.