57,000 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Cullinan Associates Inc.

Cullinan Associates Inc. acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 57,000 shares of the company's stock, valued at approximately $1,377,000. Cullinan Associates Inc. owned approximately 0.05% of CarGurus as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of CarGurus by 113.0% during the 2nd quarter. BlackRock Inc. now owns 14,824,129 shares of the company's stock worth $335,470,000 after acquiring an additional 7,863,827 shares during the period. Wellington Management Group LLP raised its holdings in shares of CarGurus by 30.4% during the 1st quarter. Wellington Management Group LLP now owns 14,128,717 shares of the company's stock worth $599,905,000 after acquiring an additional 3,294,532 shares during the period. Morgan Stanley raised its holdings in shares of CarGurus by 44.9% during the 4th quarter. Morgan Stanley now owns 6,112,679 shares of the company's stock worth $85,639,000 after acquiring an additional 1,893,891 shares during the period. State Street Corp raised its holdings in shares of CarGurus by 59.8% during the 2nd quarter. State Street Corp now owns 3,298,003 shares of the company's stock worth $74,634,000 after acquiring an additional 1,234,099 shares during the period. Finally, Durable Capital Partners LP purchased a new position in shares of CarGurus during the 4th quarter worth $45,581,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of CarGurus stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the transaction, the chief marketing officer now directly owns 163,798 shares of the company's stock, valued at approximately $3,773,905.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other CarGurus news, CMO Dafna Sarnoff sold 4,301 shares of CarGurus stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the transaction, the chief marketing officer now directly owns 163,798 shares of the company's stock, valued at approximately $3,773,905.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the completion of the transaction, the chief operating officer now directly owns 564,609 shares of the company's stock, valued at $12,545,611.98. The disclosure for this sale can be found here. Insiders sold a total of 96,125 shares of company stock valued at $2,144,894 in the last three months. 15.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CARG has been the topic of several analyst reports. Needham & Company LLC lifted their price target on CarGurus from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. Oppenheimer lifted their price target on CarGurus from $26.00 to $30.00 and gave the stock an "outperform" rating in a report on Tuesday, February 27th. Finally, UBS Group boosted their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Friday, March 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $24.90.

CarGurus Trading Up 2.2 %

CARG traded up $0.50 on Friday, hitting $23.35. The company had a trading volume of 592,829 shares, compared to its average volume of 1,277,224. The firm has a market cap of $2.51 billion, a P/E ratio of 129.72, a PEG ratio of 1.39 and a beta of 1.58. CarGurus, Inc. has a 1 year low of $15.34 and a 1 year high of $24.64. The company's fifty day moving average price is $23.14 and its 200 day moving average price is $21.47.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus's revenue was down 22.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, analysts predict that CarGurus, Inc. will post 0.94 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.