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

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

Other hedge funds have also recently made changes to their positions in the company. GeoWealth Management LLC purchased a new position in shares of CarGurus during the fourth quarter valued at approximately $49,000. Signaturefd LLC increased its stake in shares of CarGurus by 83.9% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after buying an additional 799 shares during the period. Blue Trust Inc. increased its stake in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after buying an additional 829 shares during the period. Versant Capital Management Inc increased its stake in shares of CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after buying an additional 2,267 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of CarGurus by 25.0% during the fourth quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after purchasing an additional 543 shares in the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Performance

CARG stock opened at $31.57 on Tuesday. The business's 50-day moving average is $32.77 and its two-hundred day moving average is $32.34. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 90.20, a P/E/G ratio of 1.56 and a beta of 1.42. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analysts' expectations of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The business's quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.32 earnings per share. Equities analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Activity

In related news, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction dated 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $33.88, for a total value of $338,800.00. Following the sale, the chief operating officer owned 461,821 shares of the company's stock, valued at $15,646,495.48. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,049 shares of company stock valued at $1,616,397 in the last three months. 17.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CARG shares. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. UBS Group lifted their price target on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. 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. Needham & Company LLC cut their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Finally, Citigroup cut their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, CarGurus currently has a consensus rating of "Hold" and an average price target of $37.63.

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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