44,335 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by New Century Financial Group LLC

New Century Financial Group LLC purchased a new stake in CarGurus, Inc. (NASDAQ:CARG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 44,335 shares of the company’s stock, valued at approximately $1,162,000.

Several other large investors also recently bought and sold shares of the stock. Pale Fire Capital SE purchased a new position in shares of CarGurus during the fourth quarter worth approximately $1,800,000. UniSuper Management Pty Ltd acquired a new position in CarGurus in the first quarter valued at $483,000. Capstone Investment Advisors LLC acquired a new position in CarGurus in the first quarter valued at $1,315,000. Jennison Associates LLC purchased a new stake in shares of CarGurus in the first quarter valued at about $707,000. Finally, Swedbank AB acquired a new stake in shares of CarGurus during the first quarter worth about $1,352,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Up 1.1 %

NASDAQ:CARG opened at $30.03 on Tuesday. The firm’s fifty day simple moving average is $27.36 and its 200-day simple moving average is $25.16. The stock has a market cap of $3.13 billion, a PE ratio of 107.25, a price-to-earnings-growth ratio of 1.45 and a beta of 1.56. CarGurus, Inc. has a fifty-two week low of $16.70 and a fifty-two week high of $30.99.

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

Insider Buying and Selling

In other news, COO Samuel Zales sold 25,168 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the sale, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 $3,664,815.84. The disclosure for this sale can be found here. Insiders have sold a total of 53,443 shares of company stock worth $1,468,262 in the last quarter. Company insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, August 12th. Oppenheimer upped their price target on CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price target on shares of CarGurus in a report on Monday, September 9th. BTIG Research boosted their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Citigroup raised their target price on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.