Banque Pictet & Cie SA Makes New $416,000 Investment in CarGurus, Inc. (NASDAQ:CARG)

Banque Pictet & Cie SA purchased a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,280 shares of the company's stock, valued at approximately $416,000.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC purchased a new stake in shares of CarGurus during the fourth quarter valued at about $49,000. Blue Trust Inc. lifted its position in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after buying an additional 829 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after buying an additional 2,267 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of CarGurus by 25.0% during the fourth quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after buying an additional 543 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of CarGurus by 246.6% during the fourth quarter. US Bancorp DE now owns 3,258 shares of the company's stock valued at $119,000 after buying an additional 2,318 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CarGurus

In other CarGurus news, insider Ismail Elshareef sold 5,246 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $164,567.02. Following the sale, the insider directly owned 107,007 shares in the company, valued at approximately $3,356,809.59. The trade was a 4.67% 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, General Counsel Javier Esquivel Zamora sold 12,265 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $384,753.05. Following the sale, the general counsel owned 102,723 shares in the company, valued at approximately $3,222,420.51. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,140 shares of company stock valued at $1,819,008. Company insiders own 17.20% of the company's stock.

CarGurus Stock Performance

NASDAQ CARG traded up $0.09 on Monday, reaching $34.39. The stock had a trading volume of 624,151 shares, compared to its average volume of 875,078. The stock has a market cap of $3.59 billion, a P/E ratio of 98.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.44. The business's 50-day moving average price is $32.11 and its 200 day moving average price is $32.72. 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 earnings per share for the quarter, beating 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 return on equity of 32.54% and a net margin of 4.28%. CarGurus's revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC decreased their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Gordon Haskett assumed coverage on shares of CarGurus in a research report on Monday. They issued a "hold" rating and a $35.00 price objective for the company. Citigroup decreased their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Finally, UBS Group increased their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $37.63.

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.