CarGurus, Inc. (NASDAQ:CARG) Shares Purchased by Prevatt Capital Ltd

Prevatt Capital Ltd increased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,350,000 shares of the company’s stock after purchasing an additional 120,000 shares during the quarter. CarGurus accounts for approximately 14.2% of Prevatt Capital Ltd’s portfolio, making the stock its biggest position. Prevatt Capital Ltd’s holdings in CarGurus were worth $49,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CARG. ProShare Advisors LLC boosted its holdings in CarGurus by 42.1% during the 4th quarter. ProShare Advisors LLC now owns 26,165 shares of the company’s stock valued at $956,000 after acquiring an additional 7,758 shares during the period. No Street GP LP purchased a new position in shares of CarGurus in the 4th quarter valued at about $25,578,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of CarGurus by 0.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company’s stock valued at $2,300,000 after buying an additional 483 shares during the period. Ethic Inc. purchased a new position in shares of CarGurus in the 4th quarter valued at about $573,000. Finally, Clark Capital Management Group Inc. boosted its stake in shares of CarGurus by 150.6% in the 4th quarter. Clark Capital Management Group Inc. now owns 162,720 shares of the company’s stock valued at $5,946,000 after buying an additional 97,798 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Stock Up 0.2%

CARG opened at $33.64 on Thursday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 186.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 52 week low of $21.65 and a 52 week high of $41.33. The business’s 50 day moving average is $28.83 and its two-hundred day moving average is $33.75.

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

Insiders Place Their Bets

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business’s stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares of the company’s stock, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total value of $282,900.00. Following the completion of the sale, the chief operating officer now owns 493,382 shares in the company, valued at approximately $13,957,776.78. This trade represents a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,824 shares of company stock valued at $907,856 over the last quarter. Company insiders own 16.99% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the subject of several recent research reports. JMP Securities decreased their price objective on CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of CarGurus in a research note on Monday. Needham & Company LLC decreased 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. Oppenheimer cut their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, UBS Group raised their target price on CarGurus from $29.00 to $33.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.95.

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.