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

Edgestream Partners L.P. acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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 reporting period.

A number of other institutional investors also recently added to or reduced their stakes in CARG. Proficio Capital Partners LLC acquired a new stake in shares of CarGurus during the fourth quarter worth about $374,000. PNC Financial Services Group Inc. raised its stake in shares of CarGurus by 10.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 20,806 shares of the company's stock worth $760,000 after buying an additional 1,999 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of CarGurus by 46.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 27,222 shares of the company's stock worth $995,000 after buying an additional 8,638 shares during the period. Natixis Advisors LLC raised its stake in shares of CarGurus by 9.0% during the 4th quarter. Natixis Advisors LLC now owns 25,338 shares of the company's stock worth $926,000 after buying an additional 2,090 shares during the period. Finally, Cibc World Markets Corp acquired a new position in shares of CarGurus during the 4th quarter worth approximately $297,000. Institutional investors own 86.90% of the company's stock.

Insider Activity

In other news, General Counsel Javier Zamora sold 6,154 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the sale, the general counsel owned 92,807 shares of the company's stock, valued at $3,248,245. This represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ismail Elshareef sold 1,325 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $46,375.00. Following the completion of the transaction, the insider directly owned 104,322 shares of the company's stock, valued at $3,651,270. This represents a 1.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,049 shares of company stock valued at $1,899,297 in the last 90 days. 16.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

CARG has been the subject of several analyst reports. UBS Group upped their target price on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. JMP Securities restated a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Gordon Haskett started coverage on CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 price target for the company. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Hold" and a consensus target price of $37.63.

CarGurus Stock Down 1.0%

CARG traded down $0.32 during trading on Friday, hitting $33.16. 751,130 shares of the stock were exchanged, compared to its average volume of 877,615. The stock has a fifty day moving average price of $32.62 and a two-hundred day moving average price of $32.67. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The firm has a market capitalization of $3.46 billion, a P/E ratio of 94.75, a PEG ratio of 1.64 and a beta of 1.44.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The firm had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. During the same period in the previous year, the firm posted $0.32 earnings per share. CarGurus's revenue was up 4.3% on a year-over-year basis. 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.