Cubist Systematic Strategies LLC Purchases 95,077 Shares of CarGurus, Inc. (NASDAQ:CARG)

Cubist Systematic Strategies LLC grew its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 33.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 376,582 shares of the company's stock after buying an additional 95,077 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.36% of CarGurus worth $13,760,000 as of its most recent SEC filing.

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

CarGurus Stock Up 5.4%

NASDAQ:CARG traded up $1.69 during trading hours on Monday, hitting $32.77. 382,915 shares of the stock were exchanged, compared to its average volume of 869,917. The company's 50 day moving average is $28.73 and its two-hundred day moving average is $33.74. The company has a market capitalization of $3.42 billion, a P/E ratio of 182.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS 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 during the quarter, compared to analyst estimates of $231.72 million. On average, equities research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price target for the company from $42.00 to $34.00 in a report on Thursday, March 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday. JMP Securities lowered their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Needham & Company LLC cut their price objective on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday. Finally, UBS Group upped their target price on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.95.

Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 10,000 shares of the 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 transaction, the chief operating officer now owns 493,382 shares of the company's stock, valued at approximately $13,957,776.78. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,824 shares of company stock valued at $907,856. Company insiders own 16.99% of the company's stock.

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.