CarGurus, Inc. (NASDAQ:CARG) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC trimmed its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,119,257 shares of the company's stock after selling 1,245,992 shares during the quarter. CarGurus accounts for approximately 2.5% of ArrowMark Colorado Holdings LLC's investment portfolio, making the stock its 2nd biggest holding. ArrowMark Colorado Holdings LLC owned 4.94% of CarGurus worth $187,058,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CARG. Global Retirement Partners LLC lifted its stake in shares of CarGurus by 198.5% in 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 period. Fifth Third Bancorp raised its position in shares of CarGurus by 100.0% in 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 period. Principal Securities Inc. boosted its stake 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 acquiring an additional 424 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of CarGurus during the 4th quarter worth about $35,000. Finally, GeoWealth Management LLC acquired a new stake in shares of CarGurus during the 4th quarter valued at about $49,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00. Following the completion of the sale, the chief operating officer now owns 503,382 shares in the company, valued at approximately $13,510,772.88. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock valued at $907,856 in the last 90 days. Company insiders own 17.20% of the company's stock.

CarGurus Price Performance

CarGurus stock traded down $0.18 during trading on Monday, reaching $28.01. 776,743 shares of the company were exchanged, compared to its average volume of 861,664. The stock's 50 day simple moving average is $28.96 and its two-hundred day simple moving average is $33.83. The company has a market capitalization of $2.92 billion, a P/E ratio of 155.62, a PEG ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 52-week low of $21.65 and a 52-week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to analysts' expectations of $231.72 million. As a group, equities analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CARG shares. JPMorgan Chase & Co. downgraded 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. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. JMP Securities cut their target price on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Oppenheimer reduced their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. Finally, UBS Group lowered their price objective on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, CarGurus currently has a consensus rating of "Moderate Buy" and an average target price of $37.14.

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.