EverSource Wealth Advisors LLC Purchases 6,071 Shares of CarGurus, Inc. (NASDAQ:CARG)

EverSource Wealth Advisors LLC lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 202,366.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,074 shares of the company’s stock after buying an additional 6,071 shares during the period. EverSource Wealth Advisors LLC’s holdings in CarGurus were worth $222,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CARG. Point72 Hong Kong Ltd acquired a new position in CarGurus in the third quarter valued at about $28,000. Global Retirement Partners LLC lifted its holdings in shares of CarGurus by 198.5% during 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 grew its position 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 during the period. Principal Securities Inc. increased its stake in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in CarGurus during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

CARG has been the subject of several research analyst reports. Oppenheimer reduced their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. increased their target price on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a report on Friday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $39.55.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s 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 sale, the chief executive officer now owns 120,051 shares in the company, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Samuel Zales sold 9,857 shares of CarGurus stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now owns 434,821 shares of the company’s stock, valued at $15,923,145.02. This represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,888 shares of company stock valued at $1,921,588. 17.20% of the stock is currently owned by corporate insiders.

CarGurus Stock Performance

NASDAQ:CARG opened at $30.78 on Monday. CarGurus, Inc. has a 52-week low of $21.18 and a 52-week high of $41.33. The company has a market cap of $3.21 billion, a P/E ratio of 171.01, a P/E/G ratio of 1.72 and a beta of 1.52. The stock’s 50-day simple moving average is $36.23 and its 200 day simple moving average is $34.20.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The company had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, equities analysts predict 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.