72,716 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 72,716 shares of the company’s stock, valued at approximately $2,657,000. Balyasny Asset Management L.P. owned approximately 0.07% of CarGurus at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in CarGurus by 16.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after buying an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in CarGurus by 36.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after buying an additional 23,445 shares in the last quarter. Summit Global Investments bought a new position in CarGurus during the fourth quarter valued at about $1,150,000. Friedenthal Financial bought a new position in CarGurus during the fourth quarter valued at about $767,000. Finally, Cookson Peirce & Co. Inc. raised its holdings in CarGurus by 59.6% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company’s stock valued at $781,000 after buying an additional 7,982 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $30.97 on Monday. The company has a market cap of $3.23 billion, a P/E ratio of 172.07, a P/E/G ratio of 1.72 and a beta of 1.45. The stock’s 50-day moving average is $28.73 and its 200-day moving average is $33.74. CarGurus, Inc. has a 52-week low of $21.65 and a 52-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 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 firm had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. As a group, equities analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and cut their target price for the company from $42.00 to $34.00 in a report on Thursday, March 27th. UBS Group raised their target price on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday. JMP Securities cut their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC cut their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $36.95.

Insider Buying and Selling

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the sale, the chief executive officer now directly owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.29, for a total value of $282,900.00. Following the sale, the chief operating officer now directly owns 493,382 shares in the company, valued at approximately $13,957,776.78. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,824 shares of company stock valued at $907,856 over the last three months. 16.99% of the stock is owned by corporate 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.