XTX Topco Ltd Acquires New Shares in CarGurus, Inc. (NASDAQ:CARG)

XTX Topco Ltd bought a new position in CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 22,715 shares of the company’s stock, valued at approximately $830,000.

Other hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of CarGurus by 168.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after acquiring an additional 957,035 shares during the period. Wellington Management Group LLP grew its position in CarGurus by 12.7% in the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock worth $261,091,000 after purchasing an additional 802,602 shares during the period. Raymond James Financial Inc. purchased a new stake in CarGurus during the 4th quarter valued at $19,465,000. Norges Bank bought a new position in shares of CarGurus during the 4th quarter valued at $14,369,000. Finally, Loomis Sayles & Co. L P boosted its stake in shares of CarGurus by 35.1% in the 4th quarter. Loomis Sayles & Co. L P now owns 946,974 shares of the company’s stock worth $34,603,000 after buying an additional 245,919 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. JMP Securities dropped their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 9th. UBS Group reduced their target price on shares of CarGurus from $36.00 to $29.00 and set a “neutral” rating for the company in a report on Thursday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. lowered CarGurus from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.14.

CarGurus Trading Down 1.3 %

CARG stock opened at $26.72 on Thursday. The stock has a market cap of $2.79 billion, a PE ratio of 148.45, a P/E/G ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33. The company has a 50-day moving average price of $31.59 and a 200 day moving average price of $34.07.

CarGurus (NASDAQ:CARG) last released its 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 business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Sell-side analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Buying and Selling

In other news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $38.12, for a total transaction of $83,978.36. Following the completion of the sale, the chief executive officer now owns 115,983 shares in the company, valued at approximately $4,421,271.96. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,203 shares of company stock valued at $1,158,978 over the last 90 days. Corporate insiders own 17.20% of the company’s stock.

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.