Jupiter Asset Management Ltd. Takes Position in CarGurus, Inc. (NASDAQ:CARG)

Key Points

• Jupiter Asset Management Ltd. acquired a new stake in CarGurus, Inc., purchasing 16,070 shares valued at approximately $468,000 during the first quarter.
• Wall Street analysts have a consensus rating of "Hold" on CarGurus, with an average price target of $37.63 after various ratings from different firms.
• CarGurus stock has declined by 0.3%, trading at $31.48, with institutional investors holding 86.90% of the company's stock.

Jupiter Asset Management Ltd. acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,070 shares of the company's stock, valued at approximately $468,000.

Several other institutional investors have also added to or reduced their stakes in CARG. GeoWealth Management LLC bought a new position in shares of CarGurus in the 4th quarter valued at $49,000. Signaturefd LLC grew its position in CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after acquiring an additional 799 shares during the last quarter. Blue Trust Inc. grew its position in CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after acquiring an additional 829 shares during the last quarter. Versant Capital Management Inc raised its stake in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock worth $76,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Bayforest Capital Ltd acquired a new stake in shares of CarGurus in the 1st quarter valued at approximately $76,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Price Performance

Shares of CarGurus stock traded down $2.12 during midday trading on Friday, reaching $29.29. The company had a trading volume of 1,139,222 shares, compared to its average volume of 1,036,777. The firm has a market cap of $3.06 billion, a PE ratio of 83.69, a P/E/G ratio of 1.56 and a beta of 1.42. The stock has a fifty day moving average price of $32.77 and a 200 day moving average price of $32.29. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The firm had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. During the same quarter in the previous year, the company earned $0.41 EPS. The company's revenue for the quarter was up 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling at CarGurus

In related news, General Counsel Javier Zamora sold 6,154 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $215,390.00. Following the completion of the sale, the general counsel owned 92,807 shares of the company's stock, valued at $3,248,245. This trade represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $125,378.01. Following the completion of the transaction, the chief technology officer directly owned 216,877 shares in the company, valued at approximately $7,176,459.93. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,049 shares of company stock valued at $1,616,397. 16.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CARG shares. Citigroup decreased their price target on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Needham & Company LLC upped their price target on shares of CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a report on Friday. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research report on Monday, May 12th. Finally, JMP Securities reaffirmed a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $38.29.

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.