Tudor Investment Corp ET AL Acquires 58,888 Shares of CarGurus, Inc. (NASDAQ:CARG)

Tudor Investment Corp ET AL raised its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 64.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,229 shares of the company's stock after buying an additional 58,888 shares during the period. Tudor Investment Corp ET AL owned about 0.14% of CarGurus worth $5,489,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its position 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 during the period. Summit Investment Advisors Inc. raised its stake in 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 purchasing an additional 423 shares in the last quarter. Principal Securities Inc. boosted its holdings in CarGurus by 82.7% in the 4th 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 period. Fifth Third Bancorp grew its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after purchasing an additional 456 shares in the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of CarGurus by 6.6% during the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock worth $281,000 after purchasing an additional 475 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Samuel Zales sold 10,000 shares of the company's 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 owns 390,025 shares in the company, valued at $12,004,969.50. This represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction that occurred on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now directly owns 129,790 shares in the company, 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. Insiders have sold a total of 41,824 shares of company stock valued at $1,392,156 over the last 90 days. 17.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Oppenheimer reduced their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. UBS Group decreased their price target on CarGurus from $36.00 to $29.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. JMP Securities cut their price objective on shares of CarGurus from $43.00 to $38.00 and set a "market outperform" rating for the company in a research report on Wednesday, April 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and reduced their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. 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.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.14.

CarGurus Stock Down 1.6 %

Shares of CARG opened at $27.96 on Thursday. The stock has a market cap of $2.92 billion, a PE ratio of 155.34, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33. The business has a 50-day simple moving average of $29.15 and a two-hundred day simple moving average of $33.87.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. On average, equities research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.