Sherbrooke Park Advisers LLC Invests $322,000 in CarGurus, Inc. (NASDAQ:CARG)

Sherbrooke Park Advisers LLC bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,814 shares of the company's stock, valued at approximately $322,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CARG. Arrowstreet Capital Limited Partnership grew its position in CarGurus by 168.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after buying an additional 957,035 shares during the period. Wellington Management Group LLP grew its position in CarGurus by 12.7% during the fourth quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock worth $261,091,000 after buying an additional 802,602 shares during the period. No Street GP LP acquired a new position in CarGurus during the fourth quarter worth about $25,578,000. Raymond James Financial Inc. acquired a new position in CarGurus during the fourth quarter worth about $19,465,000. Finally, Oberweis Asset Management Inc. acquired a new position in CarGurus during the fourth quarter worth about $18,270,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Down 2.1%

Shares of CARG traded down $0.66 on Friday, hitting $31.15. 499,157 shares of the stock traded hands, compared to its average volume of 875,727. The firm has a market capitalization of $3.25 billion, a P/E ratio of 173.07, a P/E/G ratio of 1.72 and a beta of 1.45. The stock's 50 day moving average is $29.01 and its two-hundred day moving average is $33.79. 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 announced 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. The business had revenue of $225.16 million for the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company's quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 earnings per share. Research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on CARG. JMP Securities reduced their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Oppenheimer reduced 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. UBS Group upped their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC reduced their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, CarGurus has an average rating of "Moderate Buy" and an average target price of $36.95.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares of the company's stock, valued at $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00. Following the transaction, the chief operating officer now directly owns 493,382 shares in the company, valued at approximately $13,957,776.78. This represents a 1.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,824 shares of company stock valued at $907,856 over the last quarter. Company insiders own 16.99% of the company's stock.

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.