Bosman Wealth Management LLC Makes New $2.64 Million Investment in CarGurus, Inc. (NASDAQ:CARG)

Bosman Wealth Management LLC purchased a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 90,553 shares of the company's stock, valued at approximately $2,638,000. CarGurus makes up 2.7% of Bosman Wealth Management LLC's holdings, making the stock its 18th largest holding. Bosman Wealth Management LLC owned 0.09% of CarGurus as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings 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 valued at $55,704,000 after acquiring an additional 957,035 shares during the last quarter. Wellington Management Group LLP increased its position in shares of CarGurus by 12.7% during the fourth 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 during the period. Bessemer Group Inc. increased its holdings in shares of CarGurus by 237,430.8% in the 1st quarter. Bessemer Group Inc. now owns 731,595 shares of the company's stock valued at $21,312,000 after acquiring an additional 731,287 shares during the period. No Street GP LP acquired a new stake in shares of CarGurus in the 4th quarter worth $25,578,000. Finally, Raymond James Financial Inc. acquired a new stake in CarGurus during the 4th quarter worth about $19,465,000. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Performance

Shares of CARG stock traded up $0.09 during mid-day trading on Monday, hitting $34.39. 624,151 shares of the stock were exchanged, compared to its average volume of 875,078. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 98.26, a P/E/G ratio of 1.68 and a beta of 1.44. The stock's fifty day simple moving average is $32.11 and its two-hundred day simple moving average is $32.72.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm 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 was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.32 earnings per share. On average, research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In related news, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $125,378.01. Following the completion of the transaction, the chief technology officer directly owned 216,877 shares in the company, valued at $7,176,459.93. The trade was a 1.72% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 4,168 shares of CarGurus stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $137,919.12. Following the transaction, the chief marketing officer owned 115,183 shares of the company's stock, valued at $3,811,405.47. This represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,140 shares of company stock worth $1,819,008. 17.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CARG has been the subject of several recent analyst reports. JMP Securities restated a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Finally, Gordon Haskett began coverage on CarGurus in a research report on Monday. They set a "hold" rating and a $35.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $37.63.

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.