10,231 Shares in CarGurus, Inc. (NASDAQ:CARG) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 10,231 shares of the company’s stock, valued at approximately $374,000.

Several other hedge funds also recently made changes to their positions in CARG. Allspring Global Investments Holdings LLC grew its stake in shares of CarGurus by 16.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after purchasing an additional 34,555 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of CarGurus by 36.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock worth $3,210,000 after acquiring an additional 23,445 shares in the last quarter. State Street Corp grew its holdings in shares of CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after acquiring an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. increased its stake in CarGurus by 9.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after purchasing an additional 89,815 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in CarGurus during the fourth quarter worth $767,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $31.75 on Wednesday. The stock has a market capitalization of $3.32 billion, a P/E ratio of 176.40, a PEG ratio of 1.72 and a beta of 1.52. The stock has a 50-day simple moving average of $35.49 and a 200-day simple moving average of $34.28. CarGurus, Inc. has a 1 year low of $21.18 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data 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 firm had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. Analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CARG has been the topic of a number of analyst reports. Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their target price on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $39.55.

Insider Activity

In related news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares in the company, valued at $4,421,271.96. This trade represents a 1.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 9,857 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now directly owns 434,821 shares in the company, valued at $15,923,145.02. This trade represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,888 shares of company stock worth $2,229,388 over the last ninety days. Corporate insiders own 17.20% of the company’s stock.

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.