Hsbc Holdings PLC Increases Holdings in CarGurus, Inc. (NASDAQ:CARG)

Hsbc Holdings PLC increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 119.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,168 shares of the company's stock after purchasing an additional 12,619 shares during the quarter. Hsbc Holdings PLC's holdings in CarGurus were worth $858,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several equities analysts have weighed in on the company. UBS Group cut their price target on CarGurus from $36.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. JMP Securities decreased their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th. Oppenheimer dropped their price objective on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating for the company in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and reduced their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CarGurus currently has an average rating of "Moderate Buy" and an average target price of $37.14.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was 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 of the company's stock, valued at approximately $3,469,286.70. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,824 shares of company stock valued at $624,956 in the last three months. Company insiders own 17.20% of the company's stock.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $28.19 on Monday. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33. The company has a market cap of $2.94 billion, a price-to-earnings ratio of 156.62, a PEG ratio of 1.72 and a beta of 1.45. The business's 50 day moving average price is $29.03 and its 200-day moving average price is $33.85.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to analysts' expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current 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.

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