Inceptionr LLC Boosts Stake in CarGurus, Inc. (NASDAQ:CARG)

Inceptionr LLC grew its stake in CarGurus, Inc. (NASDAQ:CARG) by 6.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,165 shares of the company’s stock after purchasing an additional 813 shares during the quarter. Inceptionr LLC’s holdings in CarGurus were worth $481,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of CARG. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the 3rd quarter valued at about $28,000. Global Retirement Partners LLC raised 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 in the last quarter. Fifth Third Bancorp raised its stake in shares of CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after purchasing an additional 456 shares in the last quarter. Principal Securities Inc. raised its stake in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of CarGurus in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Up 1.9 %

Shares of NASDAQ:CARG opened at $31.65 on Friday. The firm’s 50 day moving average is $36.77 and its two-hundred day moving average is $34.03. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The firm has a market capitalization of $3.30 billion, a P/E ratio of 175.84, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.44 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 firm had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. Analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CARG shares. Royal Bank of Canada upped their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price objective on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. 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. Finally, Oppenheimer dropped their price objective 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. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.41.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 7,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the completion of the transaction, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at $3,408,438.58. This trade represents a 9.99 % decrease in their ownership of the stock. 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. 17.20% of the stock is owned by company insiders.

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.