Ethic Inc. Makes New Investment in CarGurus, Inc. (NASDAQ:CARG)

Ethic Inc. acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 15,676 shares of the company's stock, valued at approximately $573,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Clark Capital Management Group Inc. raised its position in shares of CarGurus by 150.6% during the 4th quarter. Clark Capital Management Group Inc. now owns 162,720 shares of the company's stock worth $5,946,000 after purchasing an additional 97,798 shares during the last quarter. Deutsche Bank AG increased its position in CarGurus by 56.6% during the fourth quarter. Deutsche Bank AG now owns 87,510 shares of the company's stock worth $3,198,000 after buying an additional 31,636 shares in the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of CarGurus by 96.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 191,140 shares of the company's stock worth $6,984,000 after acquiring an additional 93,646 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of CarGurus in the fourth quarter valued at $4,933,000. Finally, CoreCap Advisors LLC boosted its stake in shares of CarGurus by 17,927.8% during the fourth quarter. CoreCap Advisors LLC now owns 20,732 shares of the company's stock valued at $758,000 after acquiring an additional 20,617 shares during the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARG has been the subject of several analyst reports. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Oppenheimer cut their price objective 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. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. JMP Securities cut their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group raised their price objective on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.95.

Insider Activity at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated 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 directly owns 129,790 shares of the company's stock, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,824 shares of company stock worth $907,856. Corporate insiders own 16.99% of the company's stock.

CarGurus Stock Performance

Shares of CARG traded down $0.18 during trading hours on Wednesday, hitting $32.29. The stock had a trading volume of 144,905 shares, compared to its average volume of 871,902. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The firm has a market cap of $3.37 billion, a P/E ratio of 179.37, a P/E/G ratio of 1.72 and a beta of 1.45. The company's fifty day simple moving average is $28.95 and its 200 day simple moving average is $33.80.

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