Xponance Inc. Acquires Shares of 12,146 CarGurus, Inc. (NASDAQ:CARG)

Xponance Inc. bought a new position in CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, Holdings Channel reports. The firm bought 12,146 shares of the company’s stock, valued at approximately $444,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Point72 Hong Kong Ltd acquired a new position in CarGurus in the third quarter valued at approximately $28,000. Global Retirement Partners LLC lifted its stake in shares of CarGurus by 198.5% in the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp boosted its holdings in 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. grew its position in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after buying an additional 424 shares during the period. Finally, USA Financial Formulas purchased a new position in CarGurus in the fourth quarter valued at $35,000. 86.90% of the stock is owned by institutional investors and hedge funds.

CarGurus Stock Down 1.3 %

CarGurus stock opened at $31.33 on Thursday. The company has a fifty day simple moving average of $35.41 and a 200-day simple moving average of $34.31. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 174.07, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33.

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

Insider Buying and Selling

In related news, CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now directly owns 120,051 shares in the company, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,888 shares of company stock worth $2,229,388. 17.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CARG shares. Oppenheimer lowered their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. JMP Securities restated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. Finally, JPMorgan Chase & Co. increased their target price on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $39.55.

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.