Bessemer Group Inc. Has $21.31 Million Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Bessemer Group Inc. boosted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 237,430.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 731,595 shares of the company's stock after buying an additional 731,287 shares during the period. Bessemer Group Inc. owned approximately 0.70% of CarGurus worth $21,312,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in CarGurus by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company's stock worth $353,959,000 after buying an additional 225,430 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 acquiring an additional 802,602 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after acquiring an additional 957,035 shares in the last quarter. Prevatt Capital Ltd grew its stake in shares of CarGurus by 9.8% in the 4th quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock worth $49,329,000 after acquiring an additional 120,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock worth $39,237,000 after acquiring an additional 30,593 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Stock Up 1.0%

Shares of NASDAQ:CARG opened at $32.79 on Friday. The firm has a market capitalization of $3.42 billion, a PE ratio of 93.69, a P/E/G ratio of 1.59 and a beta of 1.44. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The company has a 50-day moving average price of $30.77 and a two-hundred day moving average price of $33.03.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $225.16 million during 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 company's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the business earned $0.32 earnings per share. Analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Ismail Elshareef sold 5,246 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $164,567.02. Following the completion of the transaction, the insider now directly owns 107,007 shares in the company, valued at approximately $3,356,809.59. This trade represents a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 129,790 shares of the company's stock, valued at $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,335 shares of company stock worth $1,149,376 over the last quarter. 16.99% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CARG has been the subject of several recent analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Needham & Company LLC reduced their target price on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. JMP Securities reduced their target price on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, UBS Group upped their target price on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. 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 company's stock. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of "Moderate Buy" and an average price target of $36.95.

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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