Blueshift Asset Management LLC Sells 2,428 Shares of CarGurus, Inc. (NASDAQ:CARG)

Blueshift Asset Management LLC lowered its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 26.5% in the fourth quarter, HoldingsChannel reports. The firm owned 6,748 shares of the company’s stock after selling 2,428 shares during the period. Blueshift Asset Management LLC’s holdings in CarGurus were worth $247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in shares of CarGurus in the third quarter valued at approximately $28,000. Global Retirement Partners LLC increased its holdings in 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 raised its position in 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 last quarter. Principal Securities Inc. raised its position in 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 during the last quarter. Finally, USA Financial Formulas acquired a new position in CarGurus in the fourth quarter worth $35,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the transaction, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $30.78, for a total value of $307,800.00. Following the completion of the sale, the chief operating officer now directly owns 390,025 shares of the company’s stock, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock valued at $2,229,388 over the last three months. Company insiders own 17.20% of the company’s stock.

CarGurus Price Performance

Shares of NASDAQ:CARG opened at $30.11 on Friday. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 167.29, a P/E/G ratio of 1.72 and a beta of 1.52. The company has a 50 day moving average of $35.58 and a 200-day moving average of $34.17. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, February 20th. The company reported $0.44 EPS 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 analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current 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.