Marshall Wace LLP Sells 313,034 Shares of CarGurus, Inc. (NASDAQ:CARG)

Marshall Wace LLP trimmed its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 96.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,931 shares of the company's stock after selling 313,034 shares during the period. Marshall Wace LLP's holdings in CarGurus were worth $436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CARG. NewEdge Advisors LLC lifted its holdings in shares of CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after acquiring an additional 543 shares during the last quarter. XTX Topco Ltd bought a new stake in CarGurus in the 4th quarter worth approximately $830,000. Barclays PLC grew its position in CarGurus by 24.8% during the fourth quarter. Barclays PLC now owns 211,451 shares of the company's stock valued at $7,726,000 after acquiring an additional 41,990 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after acquiring an additional 423 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of CarGurus in the 4th quarter valued at $19,465,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 390,025 shares in the company, valued at $12,004,969.50. This trade represents a 2.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction 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 completion of the transaction, 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. In the last three months, insiders have sold 31,824 shares of company stock valued at $907,856. 17.20% of the stock is owned by company insiders.

CarGurus Price Performance

CarGurus stock traded down $0.06 during mid-day trading on Tuesday, reaching $27.95. The stock had a trading volume of 904,475 shares, compared to its average volume of 863,445. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 155.29, a PEG ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a one year low of $21.65 and a one year high of $41.33. The company has a 50-day moving average price of $28.91 and a two-hundred day moving average price of $33.79.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data 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). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million during the quarter, compared to analysts' expectations of $231.72 million. On average, equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARG has been the subject of several recent research reports. JMP Securities lowered their price target on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. 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. Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. Finally, UBS Group cut their price target on shares of CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, CarGurus has a consensus rating of "Moderate Buy" and an average target price of $37.14.

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.