Versor Investments LP Reduces Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Versor Investments LP cut its stake in CarGurus, Inc. (NASDAQ:CARG) by 63.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,718 shares of the company’s stock after selling 17,182 shares during the quarter. Versor Investments LP’s holdings in CarGurus were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Loomis Sayles & Co. L P purchased a new stake in shares of CarGurus in the third quarter worth about $21,052,000. State Street Corp boosted its holdings in CarGurus by 4.8% in the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after purchasing an additional 151,862 shares during the period. Barclays PLC boosted its holdings in CarGurus by 252.2% in the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after purchasing an additional 121,341 shares during the period. Moody Aldrich Partners LLC purchased a new position in shares of CarGurus during the 4th quarter valued at $3,852,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after buying an additional 89,815 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Up 4.7 %

NASDAQ CARG opened at $32.19 on Monday. The company has a 50-day simple moving average of $37.25 and a two-hundred day simple moving average of $33.95. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 178.84, a PEG ratio of 1.72 and a beta of 1.59.

CarGurus (NASDAQ:CARG) last issued 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). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The company had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. Equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In other news, CTO Matthew Todd Quinn sold 4,678 shares of the business’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 transaction of $167,378.84. Following the transaction, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their position. 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. Insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research note on Friday, February 21st. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. DA Davidson raised their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. B. Riley lifted their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

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.