CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Tybourne Capital Management HK Ltd.

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

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sherbrooke Park Advisers LLC acquired a new position in CarGurus during the fourth quarter worth $322,000. Point72 Asia Singapore Pte. Ltd. grew its holdings in CarGurus by 150.9% in the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 16,661 shares of the company's stock valued at $609,000 after purchasing an additional 10,020 shares during the last quarter. Prevatt Capital Ltd grew its holdings in CarGurus by 9.8% in the fourth quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock valued at $49,329,000 after purchasing an additional 120,000 shares during the last quarter. ProShare Advisors LLC grew its holdings in CarGurus by 42.1% in the fourth quarter. ProShare Advisors LLC now owns 26,165 shares of the company's stock valued at $956,000 after purchasing an additional 7,758 shares during the last quarter. Finally, No Street GP LP acquired a new stake in CarGurus in the fourth quarter valued at $25,578,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. UBS Group increased their price objective on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. 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 research report on Friday, May 9th. Finally, JMP Securities dropped their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.95.

CarGurus Price Performance

CARG opened at $32.46 on Monday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 180.34, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The business has a 50-day moving average of $28.89 and a two-hundred day moving average of $33.80. 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 quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the transaction, the chief operating officer now directly owns 503,382 shares in the company, valued at $13,510,772.88. This trade represents a 1.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock valued at $907,856 in the last three months. Corporate insiders own 16.99% of the company's stock.

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.

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