163,893 Shares in CarGurus, Inc. (NASDAQ:CARG) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. purchased a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 163,893 shares of the company's stock, valued at approximately $4,774,000. Edgestream Partners L.P. owned approximately 0.16% of CarGurus at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Bosman Wealth Management LLC purchased a new position in CarGurus in the 1st quarter worth about $2,638,000. Banque Pictet & Cie SA purchased a new position in CarGurus in the 1st quarter worth about $416,000. Envestnet Asset Management Inc. increased its stake in CarGurus by 34.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 48,629 shares of the company's stock worth $1,417,000 after purchasing an additional 12,423 shares in the last quarter. Moody Aldrich Partners LLC grew its stake in CarGurus by 33.5% during the 1st quarter. Moody Aldrich Partners LLC now owns 140,751 shares of the company's stock valued at $4,100,000 after acquiring an additional 35,340 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in CarGurus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after acquiring an additional 10,787 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Transactions at CarGurus

In related news, CMO Dafna Sarnoff sold 4,168 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $137,919.12. Following the completion of the sale, the chief marketing officer directly owned 115,183 shares in the company, valued at approximately $3,811,405.47. The trade was a 3.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $144,570.21. Following the completion of the sale, the chief executive officer owned 121,584 shares of the company's stock, valued at approximately $4,023,214.56. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,140 shares of company stock worth $1,550,608. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $33.60 on Wednesday. The stock has a market cap of $3.51 billion, a price-to-earnings ratio of 96.00, a PEG ratio of 1.68 and a beta of 1.44. The business has a 50 day simple moving average of $32.36 and a 200 day simple moving average of $32.71. 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 announced its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 EPS. On average, analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

CARG has been the topic of several research analyst reports. Gordon Haskett initiated coverage on CarGurus in a research note on Monday. They set a "hold" rating and a $35.00 target price on the stock. Needham & Company LLC lowered their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group lifted their target price on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $37.63.

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.

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