CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. grew its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 96.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 191,140 shares of the company's stock after acquiring an additional 93,646 shares during the period. D. E. Shaw & Co. Inc. owned 0.18% of CarGurus worth $6,984,000 at the end of the most recent reporting period.

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

CarGurus Stock Performance

CARG stock traded down $0.18 during trading on Wednesday, hitting $32.29. The stock had a trading volume of 144,905 shares, compared to its average volume of 871,902. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 179.37, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The company's 50 day moving average price is $28.95 and its two-hundred day moving average price is $33.80. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $225.16 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. As a group, sell-side analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the transaction, the chief operating officer now directly owns 390,025 shares of the company's stock, valued at approximately $12,004,969.50. This trade represents a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were 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 of the company's stock, valued at approximately $3,469,286.70. This trade represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group increased their price target on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. JMP Securities lowered their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. 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 dropped their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Finally, Needham & Company LLC decreased their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $36.95.

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.