CarGurus, Inc. (NASDAQ:CARG) is Inflection Point Investments LLP's 3rd Largest Position

Inflection Point Investments LLP lowered its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 16.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,514 shares of the company's stock after selling 44,310 shares during the quarter. CarGurus makes up 14.2% of Inflection Point Investments LLP's portfolio, making the stock its 3rd biggest holding. Inflection Point Investments LLP owned approximately 0.22% of CarGurus worth $6,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in shares of CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after purchasing an additional 300 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of CarGurus by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock valued at $332,000 after buying an additional 423 shares during the last quarter. Principal Securities Inc. raised its stake in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after buying an additional 424 shares during the last quarter. QRG Capital Management Inc. lifted its holdings in shares of CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock valued at $281,000 after buying an additional 475 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CarGurus by 0.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock worth $2,300,000 after buying an additional 483 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 2.1%

Shares of CarGurus stock traded up $0.64 on Monday, hitting $31.42. 630,450 shares of the company were exchanged, compared to its average volume of 871,699. The company has a 50-day moving average price of $29.83 and a 200 day moving average price of $33.33. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 174.57, a price-to-earnings-growth ratio of 1.72 and a beta of 1.44. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (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 quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS. Research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ismail Elshareef sold 5,246 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total transaction of $164,567.02. Following the transaction, the insider now directly owns 107,007 shares of the company's stock, valued at approximately $3,356,809.59. This trade represents a 4.67% decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,335 shares of company stock worth $1,149,376 in the last 90 days. Insiders own 16.99% of the company's stock.

Analyst Ratings Changes

CARG has been the topic of several recent research reports. JMP Securities lowered their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Oppenheimer lowered their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. UBS Group upped their price objective on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. Three research 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, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $36.95.

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.