CoreCap Advisors LLC Acquires 20,617 Shares of CarGurus, Inc. (NASDAQ:CARG)

CoreCap Advisors LLC grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 17,927.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,732 shares of the company's stock after acquiring an additional 20,617 shares during the period. CoreCap Advisors LLC's holdings in CarGurus were worth $758,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of CarGurus by 16.4% in the 4th 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 during the period. Los Angeles Capital Management LLC grew its stake in shares of CarGurus by 36.4% in the 4th 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 during the period. Summit Global Investments acquired a new stake in shares of CarGurus in the 4th quarter valued at about $1,150,000. Friedenthal Financial acquired a new stake in shares of CarGurus in the 4th quarter valued at about $767,000. Finally, Cookson Peirce & Co. Inc. grew its stake in shares of CarGurus by 59.6% in the 4th 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 during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total transaction of $282,900.00. Following the completion of the transaction, the chief operating officer now directly owns 493,382 shares in the company, valued at $13,957,776.78. The trade was a 1.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction 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 transaction, the chief executive officer now 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 31,824 shares of company stock valued at $907,856. 16.99% of the stock is owned by company insiders.

CarGurus Trading Down 1.4%

Shares of NASDAQ:CARG traded down $0.46 during mid-day trading on Thursday, reaching $33.19. The company had a trading volume of 184,053 shares, compared to its average volume of 874,038. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 184.40, a PEG ratio of 1.72 and a beta of 1.45. The company's 50-day moving average price is $28.83 and its 200-day moving average price is $33.75. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $225.16 million for the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. CarGurus's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS. On average, research analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on CARG. Oppenheimer reduced their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. JMP Securities dropped 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, Needham & Company LLC dropped 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, May 9th. Three research 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's stock. According to data from MarketBeat, the stock presently 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.