Divisadero Street Capital Management LP Invests $4.93 Million in CarGurus, Inc. (NASDAQ:CARG)

Divisadero Street Capital Management LP purchased a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 135,000 shares of the company's stock, valued at approximately $4,933,000. Divisadero Street Capital Management LP owned about 0.13% of CarGurus as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CARG. Barclays PLC raised its stake in shares of CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company's stock valued at $5,089,000 after acquiring an additional 121,341 shares during the last quarter. Franklin Resources Inc. increased its holdings in CarGurus by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 261,890 shares of the company's stock valued at $8,150,000 after purchasing an additional 2,051 shares during the period. Principal Financial Group Inc. raised its position in CarGurus by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company's stock valued at $13,514,000 after purchasing an additional 6,186 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in CarGurus by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company's stock worth $12,127,000 after buying an additional 9,744 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of CarGurus by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 3,099 shares of the company's stock valued at $113,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JMP Securities reduced their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. UBS Group lifted their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday. Needham & Company LLC cut their price objective on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a report on Friday. Finally, Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a report on Monday, February 24th. Three equities research 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 company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $36.95.

Insider Activity

In related news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on 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 approximately $13,510,772.88. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. The trade was a 1.39 % decrease in their position. 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 16.99% of the company's stock.

CarGurus Stock Up 10.8 %

Shares of CarGurus stock traded up $3.02 on Friday, reaching $30.97. The company's stock had a trading volume of 2,891,465 shares, compared to its average volume of 871,771. The company has a market capitalization of $3.23 billion, a price-to-earnings ratio of 172.07, a P/E/G 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. The firm's fifty day simple moving average is $28.73 and its two-hundred day simple moving average is $33.73.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (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 analysts' expectations of $231.72 million. As a group, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

About CarGurus

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.