Lido Advisors LLC Invests $276,000 in CarGurus, Inc. (NASDAQ:CARG)

Lido Advisors LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 7,554 shares of the company’s stock, valued at approximately $276,000.

Several other institutional investors also recently bought and sold shares of CARG. Barclays PLC boosted its holdings in shares of CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after acquiring an additional 121,341 shares in the last quarter. Franklin Resources Inc. increased its position in CarGurus by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock worth $8,150,000 after purchasing an additional 2,051 shares during the period. Principal Financial Group Inc. raised its stake in shares of CarGurus by 1.4% during the 3rd quarter. Principal Financial Group Inc. now owns 450,015 shares of the company’s stock worth $13,514,000 after buying an additional 6,186 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of CarGurus by 2.5% in the third quarter. JPMorgan Chase & Co. now owns 403,833 shares of the company’s stock valued at $12,127,000 after buying an additional 9,744 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in CarGurus by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 3,099 shares of the company’s stock worth $113,000 after acquiring an additional 640 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CARG shares. Oppenheimer reduced their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. UBS Group lowered their price target on CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a report on Thursday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Finally, JMP Securities lowered their target price on CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.14.

Insider Activity

In related news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $26.84, for a total transaction of $268,400.00. Following the completion of the transaction, the chief operating officer now owns 503,382 shares of the company’s stock, valued at approximately $13,510,772.88. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of CarGurus stock in a transaction on 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 transaction, the chief executive officer now owns 129,790 shares in the company, valued at approximately $3,469,286.70. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 31,824 shares of company stock valued at $907,856 in the last 90 days. 17.20% of the stock is currently owned by insiders.

CarGurus Price Performance

NASDAQ:CARG opened at $27.95 on Wednesday. The firm has a market cap of $2.92 billion, a PE ratio of 155.29, a P/E/G ratio of 1.72 and a beta of 1.45. The firm has a 50 day simple moving average of $28.91 and a 200-day simple moving average of $33.79. CarGurus, Inc. has a 1-year low of $21.65 and a 1-year high of $41.33.

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

CarGurus Company 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.