Divisadero Street Capital Management LP Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Divisadero Street Capital Management LP purchased a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 135,000 shares of the company's stock, valued at approximately $4,933,000. Divisadero Street Capital Management LP owned approximately 0.13% of CarGurus at the end of the most recent reporting period.

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

CarGurus Price Performance

CarGurus stock traded up $1.82 during trading hours on Monday, reaching $32.90. The stock had a trading volume of 444,750 shares, compared to its average volume of 870,292. The stock has a market cap of $3.43 billion, a PE ratio of 183.01, 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. The company has a fifty day simple moving average of $28.73 and a 200-day simple moving average of $33.74.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share 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 for the quarter, compared to analysts' expectations of $231.72 million. Research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm'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 completion of 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,824 shares of company stock valued at $907,856. Company insiders own 16.99% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on CARG. JMP Securities dropped their target price on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group lifted their price target on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday. JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Oppenheimer reduced their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Finally, Needham & Company LLC decreased their target price on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock 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.