Algert Global LLC Has $4.61 Million Holdings in CarGurus, Inc. (NASDAQ:CARG)

Algert Global LLC lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 45.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 126,054 shares of the company's stock after purchasing an additional 39,624 shares during the quarter. Algert Global LLC owned 0.12% of CarGurus worth $4,606,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC increased its stake in CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after acquiring an additional 532 shares during the period. Fifth Third Bancorp grew its holdings in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. increased its position in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the period. USA Financial Formulas acquired a new position in CarGurus in the fourth quarter valued at about $35,000. Finally, GeoWealth Management LLC bought a new stake in CarGurus during the fourth quarter worth about $49,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on CARG. Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. UBS Group decreased their price objective on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. JMP Securities reduced 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. Finally, Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Three investment 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 stock. Based on data from MarketBeat, CarGurus currently has an average rating of "Moderate Buy" and an average price target of $37.14.

CarGurus Trading Down 0.6 %

NASDAQ:CARG opened at $28.01 on Tuesday. The stock's 50-day moving average is $28.96 and its 200-day moving average is $33.83. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The stock has a market cap of $2.92 billion, a P/E ratio of 155.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted 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). The business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, equities analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total transaction of $268,400.00. Following the completion of the transaction, the chief operating officer now directly owns 503,382 shares in the company, valued at $13,510,772.88. This trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now directly owns 129,790 shares in the company, valued at approximately $3,469,286.70. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock worth $907,856 over the last three months. Company insiders own 17.20% of the company's stock.

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.

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