CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. increased its position in CarGurus, Inc. (NASDAQ:CARG) by 96.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 191,140 shares of the company’s stock after acquiring an additional 93,646 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.18% of CarGurus worth $6,984,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CARG. Divisadero Street Capital Management LP purchased a new position in shares of CarGurus during the 4th quarter valued at about $4,933,000. CoreCap Advisors LLC increased its stake in CarGurus by 17,927.8% during the 4th quarter. CoreCap Advisors LLC now owns 20,732 shares of the company’s stock worth $758,000 after buying an additional 20,617 shares in the last quarter. Cubist Systematic Strategies LLC increased its stake in CarGurus by 33.8% during the 4th quarter. Cubist Systematic Strategies LLC now owns 376,582 shares of the company’s stock worth $13,760,000 after buying an additional 95,077 shares in the last quarter. Cetera Investment Advisers purchased a new stake in CarGurus during the 4th quarter worth approximately $321,000. Finally, Bridgefront Capital LLC purchased a new stake in CarGurus during the 4th quarter worth approximately $208,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

Shares of CARG stock opened at $32.90 on Friday. The stock’s 50-day moving average is $28.88 and its two-hundred day moving average is $33.76. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 182.79, a PEG ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. During the same quarter last year, the company posted $0.32 earnings per share. The business’s revenue was up 4.3% on a year-over-year basis. As a group, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at approximately $3,469,286.70. This trade represents a 1.39% 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 that occurred 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 approximately $13,510,772.88. The trade was a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,824 shares of company stock valued at $907,856. 16.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on CARG shares. Needham & Company LLC lowered their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Oppenheimer decreased their price target on 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 CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of CarGurus in a research note on Monday. Finally, UBS Group increased their target price on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $36.95.

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.