8,117 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Cibc World Markets Corp

Cibc World Markets Corp purchased a new stake in CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, HoldingsChannel reports. The fund purchased 8,117 shares of the company’s stock, valued at approximately $297,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARG. Louisiana State Employees Retirement System grew its stake in shares of CarGurus by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock valued at $1,553,000 after buying an additional 300 shares during the period. Principal Securities Inc. boosted its holdings in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares in the last quarter. Fifth Third Bancorp grew its stake in 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 acquiring an additional 456 shares during the period. 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 valued at $281,000 after acquiring an additional 475 shares in the last quarter. Finally, Point72 DIFC Ltd raised its position in shares of CarGurus by 15.2% during the third quarter. Point72 DIFC Ltd now owns 3,823 shares of the company’s stock worth $115,000 after purchasing an additional 504 shares during the period. 86.90% of the stock is owned by institutional investors.

CarGurus Trading Up 4.3 %

Shares of CARG opened at $31.40 on Tuesday. The stock has a 50 day moving average of $35.49 and a 200 day moving average of $34.28. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 174.45, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. As a group, equities research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CARG. JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Finally, Oppenheimer decreased their price objective on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, CarGurus currently has a consensus rating of “Buy” and a consensus target price of $39.55.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the sale, the chief technology officer now directly owns 195,795 shares in the company, valued at $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,888 shares of company stock worth $2,229,388 over the last three months. 17.20% of the stock is currently owned by insiders.

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.