CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 3,844.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 122,229 shares of the company’s stock after purchasing an additional 119,130 shares during the period. GAMMA Investing LLC’s holdings in CarGurus were worth $3,561,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CARG. Louisiana State Employees Retirement System grew its holdings in CarGurus by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock valued at $1,553,000 after purchasing an additional 300 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after buying an additional 34,555 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of CarGurus by 2.2% during the fourth quarter. New York State Teachers Retirement System now owns 37,092 shares of the company’s stock valued at $1,355,000 after acquiring an additional 797 shares in the last quarter. Principal Securities Inc. increased its position in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of CarGurus by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 471,697 shares of the company’s stock worth $17,236,000 after acquiring an additional 21,682 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In other news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total transaction of $384,753.05. Following the completion of the transaction, the general counsel now owns 102,723 shares in the company, valued at approximately $3,222,420.51. This represents a 10.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total transaction of $48,755.52. Following the completion of the sale, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,335 shares of company stock worth $1,457,176 over the last ninety days. Company insiders own 16.99% of the company’s stock.

CarGurus Price Performance

CARG stock opened at $32.65 on Thursday. The firm has a market cap of $3.41 billion, a price-to-earnings ratio of 181.40, a PEG ratio of 1.72 and a beta of 1.44. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33. The firm has a fifty day moving average price of $29.59 and a two-hundred day moving average price of $33.46.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $225.16 million during the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.32 EPS. As a group, analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Needham & Company LLC lowered their price objective on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada reissued an “outperform” rating and set a $42.00 price target on shares of CarGurus in a research report on Monday, May 12th. JPMorgan Chase & Co. lowered shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. UBS Group increased their price objective on shares of CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.95.

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.