Vident Advisory LLC Reduces Position in CarGurus, Inc. (NASDAQ:CARG)

Vident Advisory LLC decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 40.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,431 shares of the company's stock after selling 14,165 shares during the quarter. Vident Advisory LLC's holdings in CarGurus were worth $747,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CARG. Arrowstreet Capital Limited Partnership raised its holdings in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock valued at $55,704,000 after acquiring an additional 957,035 shares during the period. Wellington Management Group LLP raised its holdings in CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company's stock valued at $261,091,000 after acquiring an additional 802,602 shares during the period. No Street GP LP bought a new stake in CarGurus during the 4th quarter valued at $25,578,000. Raymond James Financial Inc. bought a new stake in CarGurus during the 4th quarter valued at $19,465,000. Finally, Oberweis Asset Management Inc. bought a new stake in CarGurus during the 4th quarter valued at $18,270,000. Institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at CarGurus

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now directly owns 129,790 shares in the company, valued at approximately $3,469,286.70. This 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 firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the sale, the chief operating officer now owns 390,025 shares of the company's stock, valued at $12,004,969.50. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock worth $907,856 over the last three months. Company insiders own 16.99% of the company's stock.

CarGurus Stock Performance

CARG traded down $0.16 during trading on Friday, reaching $31.30. The stock had a trading volume of 109,411 shares, compared to its average volume of 872,395. The business has a 50-day moving average of $29.10 and a 200-day moving average of $33.70. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The stock has a market cap of $3.27 billion, a PE ratio of 173.79, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results 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 net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. During the same period in the prior year, the business posted $0.32 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. Equities research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

CARG has been the topic of a number of recent analyst reports. JMP Securities lowered their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Oppenheimer dropped their price objective on CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. UBS Group lifted their price objective on CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, Needham & Company LLC dropped their price objective 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 equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.95.

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.