AQR Capital Management LLC Has $380,000 Stake in CarGurus, Inc. (NASDAQ:CARG)

AQR Capital Management LLC decreased its stake in CarGurus, Inc. (NASDAQ:CARG) by 42.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,489 shares of the company’s stock after selling 10,870 shares during the quarter. AQR Capital Management LLC’s holdings in CarGurus were worth $380,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its position in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares during the last quarter. Nisa Investment Advisors LLC grew its position in CarGurus by 43.5% in the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after acquiring an additional 479 shares during the period. GAMMA Investing LLC boosted its position in CarGurus by 25.9% in the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after buying an additional 425 shares in the last quarter. Headlands Technologies LLC bought a new position in CarGurus in the 1st quarter valued at $49,000. Finally, Point72 DIFC Ltd acquired a new stake in CarGurus in the 2nd quarter valued at about $87,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the stock. BTIG Research upped their target price on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, August 12th. Citigroup boosted their target price on CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. DA Davidson reaffirmed a “neutral” rating and issued a $26.50 price objective on shares of CarGurus in a report on Tuesday, September 10th. Finally, Needham & Company LLC upped their target price on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $29.35.

Insider Activity

In other news, COO Samuel Zales sold 25,168 shares of CarGurus 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 completion of the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other CarGurus news, CMO Dafna Sarnoff sold 4,127 shares of CarGurus stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the sale, the chief marketing officer now owns 119,330 shares of the company’s stock, valued at $3,572,740.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,897 shares of company stock valued at $1,027,982 in the last ninety days. 17.20% of the stock is currently owned by insiders.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $31.45 on Wednesday. The company’s 50 day moving average price is $28.51 and its 200-day moving average price is $25.70. CarGurus, Inc. has a 52-week low of $16.70 and a 52-week high of $31.55. The company has a market capitalization of $3.28 billion, a P/E ratio of 112.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.56.

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

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.