Assenagon Asset Management S.A. Sells 184,129 Shares of CarGurus, Inc. (NASDAQ:CARG)

Assenagon Asset Management S.A. decreased its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 88.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,299 shares of the company's stock after selling 184,129 shares during the period. Assenagon Asset Management S.A.'s holdings in CarGurus were worth $708,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of CarGurus by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after acquiring an additional 225,430 shares during the last quarter. Wellington Management Group LLP raised its position in CarGurus by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after purchasing an additional 802,602 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares in the last quarter. Prevatt Capital Ltd lifted its holdings in CarGurus by 9.8% during the 4th quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock worth $49,329,000 after buying an additional 120,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after buying an additional 30,593 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00. Following the completion of the sale, the chief operating officer now owns 503,382 shares of the company's stock, valued at $13,510,772.88. This represents a 1.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at $3,469,286.70. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,335 shares of company stock valued at $1,149,376. 16.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of recent research reports. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. Needham & Company LLC dropped their price objective on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. JMP Securities lowered their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Oppenheimer cut their price objective 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. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $36.95.

CarGurus Stock Up 1.8%

CarGurus stock traded up $0.57 during midday trading on Thursday, hitting $31.75. 904,387 shares of the stock were exchanged, compared to its average volume of 873,649. The company has a fifty day simple moving average of $30.09 and a two-hundred day simple moving average of $33.26. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The stock has a market capitalization of $3.32 billion, a PE ratio of 90.72, a P/E/G ratio of 1.53 and a beta of 1.44.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the business posted $0.32 earnings per share. As a group, equities research 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.