CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 77.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,885 shares of the company's stock after selling 195,267 shares during the quarter. Jane Street Group LLC owned about 0.06% of CarGurus worth $2,115,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CARG. Global Retirement Partners LLC grew its holdings in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after buying an additional 456 shares in the last quarter. Principal Securities Inc. grew its holdings in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after buying an additional 424 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of CarGurus during the fourth quarter worth $35,000. Finally, GeoWealth Management LLC purchased a new stake in shares of CarGurus during the fourth quarter worth $49,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CARG. Needham & Company LLC dropped their target price on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a report on Friday, May 9th. UBS Group upped their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. JPMorgan Chase & Co. lowered shares of 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 report on Thursday, March 27th. Royal Bank of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Finally, JMP Securities dropped their price objective on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, CarGurus currently has an average rating of "Moderate Buy" and an average target price of $36.95.

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 sale, the chief executive officer now owns 129,790 shares of the company's stock, valued at approximately $3,469,286.70. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the 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 sale, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. This represents a 2.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,824 shares of company stock valued at $907,856 over the last 90 days. 16.99% of the stock is owned by insiders.

CarGurus Trading Up 0.8%

NASDAQ CARG traded up $0.25 during trading hours on Thursday, reaching $31.81. The company had a trading volume of 813,063 shares, compared to its average volume of 874,804. The stock has a 50-day moving average of $28.98 and a 200 day moving average of $33.79. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The stock has a market capitalization of $3.32 billion, a P/E ratio of 176.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $225.16 million for the quarter, compared to analysts' expectations of $226.72 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. CarGurus's revenue for the quarter was up 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

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.