Wellington Management Group LLP Boosts Position in CarGurus, Inc. (NASDAQ:CARG)

Wellington Management Group LLP lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 12.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,145,350 shares of the company’s stock after purchasing an additional 802,602 shares during the quarter. Wellington Management Group LLP owned about 6.84% of CarGurus worth $261,091,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CARG. Global Retirement Partners LLC boosted its holdings in CarGurus by 198.5% in 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 during the last quarter. Fifth Third Bancorp raised its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares during the period. Point72 Hong Kong Ltd acquired a new position in CarGurus in the third quarter valued at approximately $28,000. Principal Securities Inc. grew its position in CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after acquiring an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new stake in CarGurus during 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

Several equities analysts have recently commented on CARG shares. Oppenheimer decreased their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note 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 report on Monday, December 16th. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 price objective on shares of CarGurus in a report on Friday, February 21st. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and an average price target of $38.75.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 9,857 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $36.62, for a total value of $360,963.34. Following the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at approximately $15,923,145.02. This trade represents a 2.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the transaction, the chief executive officer now owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 61,888 shares of company stock valued at $2,229,388 over the last 90 days. 17.20% of the stock is owned by corporate insiders.

CarGurus Stock Up 0.4 %

NASDAQ:CARG opened at $29.24 on Wednesday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The company has a fifty day simple moving average of $34.78 and a two-hundred day simple moving average of $34.38. The company has a market cap of $3.05 billion, a price-to-earnings ratio of 162.45, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, February 20th. The company reported $0.44 EPS 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%. On average, analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

CarGurus 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.