3,500 Shares in CarGurus, Inc. (NASDAQ:CARG) Acquired by Paradigm Asset Management Co. LLC

Paradigm Asset Management Co. LLC bought a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 3,500 shares of the company’s stock, valued at approximately $128,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning increased its stake in shares of CarGurus by 152.3% in the 3rd quarter. Creative Planning now owns 25,391 shares of the company’s stock worth $762,000 after purchasing an additional 15,328 shares in the last quarter. Signaturefd LLC lifted its position in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in CarGurus by 5.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 12,157 shares of the company’s stock valued at $365,000 after purchasing an additional 584 shares during the period. Assenagon Asset Management S.A. increased its position in CarGurus by 629.3% in the third quarter. Assenagon Asset Management S.A. now owns 372,379 shares of the company’s stock worth $11,183,000 after buying an additional 321,318 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of CarGurus by 6.8% in the third quarter. Louisiana State Employees Retirement System now owns 42,200 shares of the company’s stock worth $1,267,000 after buying an additional 2,700 shares during the period. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Down 17.1 %

Shares of CarGurus stock opened at $31.15 on Friday. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33. The business has a 50-day moving average price of $37.81 and a 200-day moving average price of $33.67. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -67.72, a PEG ratio of 1.74 and a beta of 1.59.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a positive return on equity of 13.96% and a negative net margin of 5.47%. On average, equities analysts expect that CarGurus, Inc. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus 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 owns 120,051 shares in the company, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the sale, the chief marketing officer now owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,388 shares of company stock worth $2,204,338. Insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of recent research reports. JMP Securities reiterated a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Oppenheimer upped their price target on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. B. Riley raised their price objective on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.59.

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.