Pictet Asset Management Holding SA Raises Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

Pictet Asset Management Holding SA increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 9.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,048 shares of the company’s stock after purchasing an additional 930 shares during the quarter. Pictet Asset Management Holding SA’s holdings in CarGurus were worth $404,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in CarGurus by 91.1% in the 3rd quarter. FMR LLC now owns 13,840 shares of the company’s stock worth $416,000 after buying an additional 6,599 shares during the last quarter. Quarry LP boosted its position in shares of CarGurus by 155.8% in the third quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after acquiring an additional 913 shares during the last quarter. State Street Corp grew its holdings in CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after purchasing an additional 151,862 shares during the period. Barclays PLC increased its position in CarGurus by 252.2% during the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after purchasing an additional 74,730 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $27.95 on Thursday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 155.29, a PEG ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 1-year low of $21.18 and a 1-year high of $41.33. The company has a 50 day moving average price of $32.56 and a 200 day moving average price of $34.15.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The firm had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. On average, sell-side analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CARG shares. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JMP Securities dropped their target price on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research report on Wednesday. Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. downgraded shares of CarGurus from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.95.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,203 shares of company stock valued at $1,158,978 in the last quarter. Company 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.