Tybourne Capital Management HK Ltd. Boosts Holdings in CarGurus, Inc. (NASDAQ:CARG)

Tybourne Capital Management HK Ltd. raised its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 165.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,346 shares of the company's stock after purchasing an additional 165,365 shares during the quarter. CarGurus accounts for approximately 2.4% of Tybourne Capital Management HK Ltd.'s holdings, making the stock its 12th biggest holding. Tybourne Capital Management HK Ltd. owned approximately 0.26% of CarGurus worth $9,696,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company's stock worth $8,748,000 after acquiring an additional 34,555 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in CarGurus by 36.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company's stock worth $3,210,000 after purchasing an additional 23,445 shares during the period. Summit Global Investments purchased a new position in CarGurus during the 4th quarter worth $1,150,000. Cookson Peirce & Co. Inc. increased its holdings in CarGurus by 59.6% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company's stock worth $781,000 after purchasing an additional 7,982 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in CarGurus by 4.8% during the 4th quarter. Principal Financial Group Inc. now owns 471,697 shares of the company's stock worth $17,236,000 after purchasing an additional 21,682 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. This trade represents a 2.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value 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 approximately $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,824 shares of company stock worth $907,856. Insiders own 16.99% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on CARG. Oppenheimer reduced their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. JMP Securities reduced their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Needham & Company LLC lowered 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. cut shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. 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. According to data from MarketBeat, CarGurus currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.95.

CarGurus Stock Performance

CARG traded down $0.66 on Friday, hitting $31.15. The company had a trading volume of 499,157 shares, compared to its average volume of 874,287. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The stock has a fifty day moving average price of $29.01 and a 200-day moving average price of $33.78. The stock has a market capitalization of $3.25 billion, a price-to-earnings ratio of 173.07, a P/E/G ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business's revenue for the quarter was up 4.3% compared to the same quarter last year. Analysts forecast 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.