Point72 Asia Singapore Pte. Ltd. Acquires 10,020 Shares of CarGurus, Inc. (NASDAQ:CARG)

Point72 Asia Singapore Pte. Ltd. grew its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 150.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,661 shares of the company's stock after purchasing an additional 10,020 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in CarGurus were worth $609,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CARG. Global Retirement Partners LLC boosted its stake in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company's stock worth $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its position in CarGurus by 100.0% during the fourth 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. Principal Securities Inc. boosted its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. USA Financial Formulas bought a new position in CarGurus in the fourth quarter valued at approximately $35,000. Finally, GeoWealth Management LLC acquired a new position in shares of CarGurus during the 4th quarter worth approximately $49,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Trading Down 1.3%

Shares of NASDAQ:CARG traded down $0.43 during trading on Monday, reaching $32.03. 702,492 shares of the stock were exchanged, compared to its average volume of 874,373. CarGurus, Inc. has a 12 month low of $21.65 and a 12 month high of $41.33. The stock has a 50-day moving average price of $28.91 and a 200-day moving average price of $33.81. The firm has a market cap of $3.34 billion, a PE ratio of 177.95, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last released 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. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm's quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.32 EPS. On average, sell-side analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARG shares. JMP Securities cut their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a report on Wednesday, April 9th. Needham & Company LLC cut their price target on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. UBS Group lifted their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a research note on Monday, May 12th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.95.

Insider Transactions at CarGurus

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total transaction of $282,900.00. Following the sale, the chief operating officer now owns 493,382 shares of the company's stock, valued at approximately $13,957,776.78. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the firm's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total transaction of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares of the company's stock, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,824 shares of company stock valued at $907,856. Corporate insiders own 16.99% of the company's stock.

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.