CarGurus, Inc. (NASDAQ:CARG) Stock Position Decreased by Man Group plc

Man Group plc lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 12.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,226 shares of the company's stock after selling 30,667 shares during the quarter. Man Group plc owned 0.21% of CarGurus worth $7,974,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CARG. Global Retirement Partners LLC lifted its holdings 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 position in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares during the last quarter. Principal Securities Inc. increased its position in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the last quarter. GeoWealth Management LLC bought a new position in CarGurus during the fourth quarter valued at approximately $49,000. Finally, R Squared Ltd bought a new position in shares of CarGurus in the fourth quarter worth approximately $77,000. Institutional investors own 86.90% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CARG. JMP Securities reduced their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. UBS Group upped their target price on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Needham & Company LLC decreased their price target on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.95.

Insider Transactions at CarGurus

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 completion of the transaction, the chief operating officer now owns 503,382 shares of the company's stock, valued at approximately $13,510,772.88. This trade represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction dated 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 approximately $3,469,286.70. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,824 shares of company stock valued at $907,856. 16.99% of the stock is currently owned by corporate insiders.

CarGurus Stock Performance

CarGurus stock traded down $0.66 during midday trading on Friday, hitting $31.15. 499,157 shares of the company were exchanged, compared to its average volume of 875,727. The firm has a market capitalization of $3.25 billion, a PE ratio of 173.07, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. The business has a fifty day simple moving average of $29.01 and a two-hundred day simple moving average of $33.79. 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 posted its quarterly earnings data 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. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. During the same quarter in the previous year, the business earned $0.32 EPS. The company's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current 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.