Bayesian Capital Management LP Takes $491,000 Position in CarGurus, Inc. (NASDAQ:CARG)

Bayesian Capital Management LP purchased a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 13,450 shares of the company's stock, valued at approximately $491,000.

A number of other large investors have also recently added to or reduced their stakes in CARG. Allspring Global Investments Holdings LLC raised its position in shares of CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company's stock valued at $8,748,000 after purchasing an additional 34,555 shares during the period. Los Angeles Capital Management LLC increased its position in CarGurus by 36.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company's stock worth $3,210,000 after acquiring an additional 23,445 shares during the period. Summit Global Investments bought a new position in CarGurus during the fourth quarter worth about $1,150,000. Friedenthal Financial bought a new position in CarGurus during the fourth quarter worth about $767,000. Finally, Cookson Peirce & Co. Inc. increased its position in CarGurus by 59.6% during the fourth quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company's stock worth $781,000 after acquiring an additional 7,982 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Trading Up 5.3%

CarGurus stock traded up $1.65 during trading hours on Monday, reaching $32.73. 262,125 shares of the stock were exchanged, compared to its average volume of 869,531. The stock has a 50 day moving average of $28.73 and a two-hundred day moving average of $33.74. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The company has a market cap of $3.42 billion, a P/E ratio of 181.42, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted 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). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. On average, analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's 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 sale, the chief executive officer now directly owns 129,790 shares of the company's stock, valued at $3,469,286.70. The trade was a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total transaction of $268,400.00. Following the sale, the chief operating officer now directly owns 503,382 shares in the company, valued at $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 three months, insiders have sold 31,824 shares of company stock worth $907,856. Corporate insiders own 16.99% of the company's stock.

Analysts Set New Price Targets

CARG has been the topic of a number of recent research reports. Needham & Company LLC lowered their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Oppenheimer lowered their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. JMP Securities lowered their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, UBS Group raised their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $36.95.

CarGurus 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.