CarGurus, Inc. (NASDAQ:CARG) Shares Bought by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. raised its holdings in CarGurus, Inc. (NASDAQ:CARG) by 96.1% in the 4th quarter, HoldingsChannel reports. The fund owned 191,140 shares of the company’s stock after acquiring an additional 93,646 shares during the period. D. E. Shaw & Co. Inc.’s holdings in CarGurus were worth $6,984,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARG. Global Retirement Partners LLC increased its position in CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares in the last quarter. Fifth Third Bancorp grew its position in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after buying an additional 456 shares in the last quarter. Principal Securities Inc. increased its position in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the last quarter. USA Financial Formulas acquired a new stake in CarGurus during the fourth quarter valued at approximately $35,000. Finally, GeoWealth Management LLC bought a new stake in shares of CarGurus in the 4th quarter valued at approximately $49,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Down 2.2%

Shares of NASDAQ:CARG opened at $32.90 on Friday. The firm has a fifty day moving average of $28.88 and a two-hundred day moving average of $33.76. The firm has a market capitalization of $3.44 billion, a P/E ratio of 182.79, a price-to-earnings-growth ratio of 1.72 and a beta of 1.45. CarGurus, Inc. has a 12-month low of $21.65 and a 12-month high of $41.33.

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

Insider Activity

In other news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business’s 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 transaction, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $28.29, for a total transaction of $282,900.00. Following the transaction, the chief operating officer now owns 493,382 shares in the company, valued at approximately $13,957,776.78. The trade was a 1.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,824 shares of company stock worth $907,856. 16.99% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on CARG. UBS Group lifted their target price on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. JMP Securities dropped their price target on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Needham & Company LLC lowered their price objective on shares of CarGurus from $45.00 to $39.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Royal Bank of Canada restated an “outperform” rating and issued a $42.00 price target on shares of CarGurus in a research report on Monday. Finally, Oppenheimer decreased their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Three investment 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 company’s stock. According to data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average 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.