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

Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 150.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,661 shares of the company's stock after acquiring an additional 10,020 shares during the period. Point72 Asia Singapore Pte. Ltd.'s holdings in CarGurus were worth $609,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its holdings in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after purchasing an additional 300 shares in the last quarter. Summit Investment Advisors Inc. raised its stake 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 buying an additional 423 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock valued at $34,000 after buying an additional 424 shares during the period. Fifth Third Bancorp lifted its holdings in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after buying an additional 456 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in CarGurus by 6.6% during the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock valued at $281,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $30.78, for a total value of $307,800.00. Following the sale, the chief operating officer now directly owns 390,025 shares of the company's stock, valued at $12,004,969.50. This trade represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on CARG shares. Oppenheimer dropped their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. JMP Securities lowered their price objective 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. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and dropped their target price for the stock from $42.00 to $34.00 in a report on Thursday, March 27th. UBS Group increased their target price on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $36.95.

CarGurus Trading Down 2.7%

Shares of CARG traded down $0.87 during midday trading on Wednesday, hitting $31.60. The stock had a trading volume of 264,762 shares, compared to its average volume of 872,348. CarGurus, Inc. has a fifty-two week low of $21.65 and a fifty-two week high of $41.33. The business has a 50-day simple moving average of $28.95 and a two-hundred day simple moving average of $33.80. The firm has a market cap of $3.30 billion, a P/E ratio of 176.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping 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 firm had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. During the same quarter last year, the business posted $0.32 EPS. The company's revenue was up 4.3% on a year-over-year basis. On average, analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.