31,057 Shares in CarGurus, Inc. (NASDAQ:CARG) Purchased by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd acquired 31,057 shares of CarGurus, Inc. for approximately $905,000, indicating growing interest from institutional investors.
• Stock ratings from various analysts suggest a consensus rating of "Hold", with price targets ranging from $33.00 to $42.00.
• Insider transactions included notable sales by company executives, with insiders selling a total of 59,049 shares valued at about $1.9 million over the last 90 days.

Y Intercept Hong Kong Ltd purchased a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 31,057 shares of the company's stock, valued at approximately $905,000.

Other large investors have also recently modified their holdings of the company. GeoWealth Management LLC bought a new position in CarGurus during the fourth quarter worth $49,000. Signaturefd LLC raised its stake in CarGurus by 83.9% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after buying an additional 799 shares during the last quarter. Blue Trust Inc. raised its stake in CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after buying an additional 829 shares during the last quarter. Versant Capital Management Inc raised its stake in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock worth $76,000 after buying an additional 2,267 shares during the last quarter. Finally, NewEdge Advisors LLC raised its stake in CarGurus by 25.0% during the fourth quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after buying an additional 543 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total transaction of $338,800.00. Following the transaction, the chief operating officer directly owned 461,821 shares in the company, valued at approximately $15,646,495.48. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $125,378.01. Following the transaction, the chief technology officer owned 216,877 shares in the company, valued at approximately $7,176,459.93. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,049 shares of company stock valued at $1,899,297 over the last quarter. 17.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Gordon Haskett assumed coverage on shares of CarGurus in a research note on Monday, July 14th. They set a "hold" rating and a $35.00 target price for the company. Royal Bank Of Canada reissued an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Citigroup decreased their price target on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Needham & Company LLC dropped 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, May 9th. Finally, UBS Group increased their price objective on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.63.

CarGurus Price Performance

Shares of NASDAQ:CARG traded down $0.47 during midday trading on Tuesday, hitting $33.13. 95,152 shares of the company's stock were exchanged, compared to its average volume of 1,028,731. The stock has a 50 day moving average price of $32.69 and a 200-day moving average price of $32.50. The company has a market cap of $3.46 billion, a PE ratio of 94.94, a price-to-earnings-growth ratio of 1.64 and a beta of 1.44. CarGurus, Inc. has a 12 month low of $21.65 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its 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 the consensus estimate of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.32 earnings per share. On average, analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

CarGurus 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.