Moody Aldrich Partners LLC Boosts Stake in CarGurus, Inc. (NASDAQ:CARG)

Moody Aldrich Partners LLC lifted its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 33.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 140,751 shares of the company's stock after buying an additional 35,340 shares during the period. Moody Aldrich Partners LLC owned about 0.13% of CarGurus worth $4,100,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. GeoWealth Management LLC bought a new position in CarGurus during the 4th quarter worth approximately $49,000. 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 purchasing an additional 829 shares in the last quarter. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 2,267 shares during the last quarter. NewEdge Advisors LLC increased its position in CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after buying an additional 543 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in CarGurus by 528.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,765 shares of the company's stock valued at $102,000 after buying an additional 2,325 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at CarGurus

In other news, CMO Dafna Sarnoff sold 4,168 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $137,919.12. Following the transaction, the chief marketing officer directly owned 115,183 shares in the company, valued at $3,811,405.47. The trade was a 3.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $28.29, for a total value of $282,900.00. Following the completion of the transaction, the chief operating officer owned 493,382 shares in the company, valued at $13,957,776.78. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,661 shares of company stock valued at $1,557,243 in the last ninety days. Corporate insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. UBS Group increased their target price on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. JMP Securities reiterated a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a research note on Wednesday, July 2nd. Needham & Company LLC reduced their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, Citigroup lowered their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarGurus has an average rating of "Moderate Buy" and an average target price of $37.86.

CarGurus Stock Performance

Shares of CARG stock traded down $0.38 on Monday, reaching $33.32. The stock had a trading volume of 608,180 shares, compared to its average volume of 868,599. The stock has a market cap of $3.48 billion, a P/E ratio of 95.20, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. CarGurus, Inc. has a 1 year low of $21.65 and a 1 year high of $41.33. The company has a 50 day simple moving average of $31.52 and a 200 day simple moving average of $32.80.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The firm 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 32.54% and a net margin of 4.28%. The company's revenue for the quarter was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.