18,283 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Seven Eight Capital LP

Seven Eight Capital LP bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 18,283 shares of the company’s stock, valued at approximately $479,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of CarGurus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after buying an additional 107,244 shares during the period. Wellington Management Group LLP grew its holdings in shares of CarGurus by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after purchasing an additional 1,619,076 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of CarGurus by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,208,420 shares of the company’s stock worth $53,357,000 after purchasing an additional 126,216 shares during the period. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of CarGurus by 26.5% in the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company’s stock worth $28,567,000 after purchasing an additional 228,380 shares during the last quarter. Finally, Prevatt Capital Ltd acquired a new position in CarGurus during the 4th quarter valued at approximately $24,160,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Price Performance

NASDAQ CARG opened at $30.35 on Monday. CarGurus, Inc. has a 12 month low of $16.70 and a 12 month high of $30.99. The firm has a market capitalization of $3.16 billion, a PE ratio of 108.39, a P/E/G ratio of 1.33 and a beta of 1.56. The company’s 50 day simple moving average is $27.01 and its 200 day simple moving average is $24.93.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The company had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. Sell-side analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares in the company, valued at approximately $3,664,815.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. The disclosure for this sale can be found here. Insiders have sold a total of 57,421 shares of company stock valued at $1,567,354 over the last three months. Company insiders own 17.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC raised their target price on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Citigroup lifted their price objective on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, July 3rd. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. BTIG Research lifted their price target on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Oppenheimer increased their price objective on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.35.

CarGurus 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.