UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,796 shares of the company's stock after buying an additional 46,298 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.19% of CarGurus worth $7,264,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its position in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock valued at $1,553,000 after purchasing an additional 300 shares during the last quarter. Summit Investment Advisors Inc. grew its stake in shares of CarGurus by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock valued at $332,000 after buying an additional 423 shares in the last quarter. Principal Securities Inc. raised its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Fifth Third Bancorp lifted its stake in CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after acquiring an additional 456 shares during the last quarter. Finally, QRG Capital Management Inc. grew its position in shares of CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock valued at $281,000 after acquiring an additional 475 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Analysts Set New Price Targets

CARG has been the topic of several research reports. Oppenheimer decreased their price objective 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. Royal Bank of Canada restated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research report on Monday, May 12th. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and decreased their target price for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Needham & Company LLC dropped 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. Finally, JMP Securities reduced their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.95.

CarGurus Trading Down 0.5%

CarGurus stock traded down $0.16 during midday trading on Thursday, reaching $31.85. The stock had a trading volume of 70,239 shares, compared to its average volume of 874,742. CarGurus, Inc. has a 12 month low of $21.65 and a 12 month high of $41.33. The company has a fifty day moving average price of $29.19 and a two-hundred day moving average price of $33.57. The company has a market capitalization of $3.33 billion, a P/E ratio of 177.41, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share 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 analysts' expectations of $226.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business's revenue was up 4.3% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. On average, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $26.84, for a total value of $268,400.00. Following the transaction, the chief operating officer now owns 503,382 shares of the company's stock, valued at approximately $13,510,772.88. This represents a 1.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction on Thursday, April 17th. The stock was 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 in the company, valued at $3,469,286.70. This represents a 1.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock worth $907,856 in the last ninety days. 16.99% of the stock is currently owned by insiders.

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.