Cetera Investment Advisers Takes $321,000 Position in CarGurus, Inc. (NASDAQ:CARG)

Cetera Investment Advisers bought a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,777 shares of the company's stock, valued at approximately $321,000.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC lifted its position in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp increased its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after acquiring an additional 456 shares during the last quarter. Principal Securities Inc. increased its stake in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares during the last quarter. GeoWealth Management LLC bought a new stake in CarGurus during the fourth quarter worth approximately $49,000. Finally, R Squared Ltd bought a new stake in CarGurus during the fourth quarter worth approximately $77,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total transaction 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 position. The transaction 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 on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $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. Insiders have sold 31,824 shares of company stock worth $907,856 in the last ninety days. 16.99% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. UBS Group boosted their price objective on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Oppenheimer reduced their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Royal Bank of Canada reissued an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Finally, 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 research note on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $36.95.

CarGurus Trading Down 0.3%

Shares of CARG stock traded down $0.10 on Monday, reaching $31.24. 936,283 shares of the company's stock were exchanged, compared to its average volume of 877,292. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The stock has a market capitalization of $3.26 billion, a PE ratio of 173.57, a P/E/G ratio of 1.72 and a beta of 1.45. The company's fifty day simple moving average is $29.09 and its 200 day simple moving average is $33.62.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. CarGurus's quarterly revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.