Susquehanna Fundamental Investments LLC Acquires Shares of 84,607 CarGurus, Inc. (NASDAQ:CARG)

Susquehanna Fundamental Investments LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 84,607 shares of the company’s stock, valued at approximately $2,217,000. Susquehanna Fundamental Investments LLC owned about 0.08% of CarGurus as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. CWM LLC increased its position in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the period. GAMMA Investing LLC boosted its stake in shares of CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock valued at $54,000 after purchasing an additional 425 shares during the period. Headlands Technologies LLC purchased a new stake in shares of CarGurus during the first quarter valued at $49,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of CarGurus during the second quarter valued at $87,000. Institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARG. JMP Securities reissued a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a research note on Monday, September 9th. BTIG Research boosted their target price 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. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, August 12th. DA Davidson reissued a “neutral” rating and set a $26.50 target price on shares of CarGurus in a research note on Tuesday, September 10th. Finally, B. Riley boosted their target price 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. Three 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, CarGurus currently has a consensus rating of “Moderate Buy” and an average target price of $29.35.

CarGurus Price Performance

NASDAQ:CARG opened at $30.03 on Tuesday. CarGurus, Inc. has a 1-year low of $16.70 and a 1-year high of $30.99. The company has a 50-day moving average of $27.36 and a 200 day moving average of $25.16. The firm 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 (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $218.69 million during 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%. Sell-side analysts anticipate that CarGurus, Inc. will post 1.18 EPS for the current fiscal year.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction of $713,261.12. Following the completion of the sale, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at $13,619,722.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, 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 value of $713,261.12. Following the completion of the transaction, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,443 shares of company stock valued at $1,468,262. 17.20% of the stock is currently owned by insiders.

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.