CarGurus, Inc. (NASDAQ:CARG) Shares Acquired by EntryPoint Capital LLC

EntryPoint Capital LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 358.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 4,596 shares of the company’s stock after purchasing an additional 3,593 shares during the quarter. EntryPoint Capital LLC’s holdings in CarGurus were worth $106,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of CarGurus during the fourth quarter worth $32,000. Headlands Technologies LLC acquired a new stake in shares of CarGurus during the first quarter worth $49,000. Daiwa Securities Group Inc. acquired a new stake in shares of CarGurus during the fourth quarter worth $65,000. PNC Financial Services Group Inc. lifted its stake in shares of CarGurus by 87.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,519 shares of the company’s stock worth $133,000 after buying an additional 2,568 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in CarGurus during the first quarter valued at $176,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Stock Up 0.2 %

CARG stock opened at $25.25 on Friday. The stock has a market capitalization of $2.63 billion, a P/E ratio of 90.18, a P/E/G ratio of 1.46 and a beta of 1.57. The firm has a 50-day simple moving average of $25.08 and a 200-day simple moving average of $23.76. CarGurus, Inc. has a 52 week low of $16.70 and a 52 week high of $26.90.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. The business had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. On average, analysts expect that CarGurus, Inc. will post 0.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CARG shares. Royal Bank of Canada boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Friday, May 10th. JMP Securities restated a “market outperform” rating and set a $30.00 target price on shares of CarGurus in a research report on Wednesday, July 10th. Needham & Company LLC boosted their target price on shares of CarGurus from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, May 10th. DA Davidson boosted their target price on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $27.56.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares of the company’s stock, valued at approximately $12,929,318.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the transaction, the chief technology officer now directly owns 217,374 shares in the company, valued at approximately $5,414,786.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the transaction, the chief operating officer now owns 488,083 shares in the company, valued at $12,929,318.67. The disclosure for this sale can be found here. Insiders sold 83,494 shares of company stock valued at $2,119,722 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.