Sunriver Management LLC Sells 134,265 Shares of CarGurus, Inc. (NASDAQ:CARG)

Sunriver Management LLC reduced its position in CarGurus, Inc. (NASDAQ:CARG) by 13.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 880,753 shares of the company’s stock after selling 134,265 shares during the quarter. CarGurus makes up about 3.9% of Sunriver Management LLC’s holdings, making the stock its 14th largest position. Sunriver Management LLC owned about 0.85% of CarGurus worth $32,183,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in CarGurus by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock valued at $353,959,000 after acquiring an additional 225,430 shares during the period. Wellington Management Group LLP boosted its holdings 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 buying an additional 802,602 shares during the period. State Street Corp grew its stake 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 buying an additional 151,862 shares in the last quarter. Geode Capital Management LLC raised its holdings in CarGurus by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after acquiring an additional 74,730 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of CarGurus by 168.7% during 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 in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG stock opened at $27.00 on Monday. The company has a market capitalization of $2.82 billion, a PE ratio of 150.01, a price-to-earnings-growth ratio of 1.72 and a beta of 1.46. CarGurus, Inc. has a one year low of $21.18 and a one year high of $41.33. The company’s 50 day moving average price is $32.09 and its two-hundred day moving average price is $34.14.

CarGurus (NASDAQ:CARG) last issued 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 during the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. On average, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other CarGurus news, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction on Friday, January 17th. The shares were 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 of the company’s stock, valued at $4,421,271.96. This represents a 1.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the sale, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,203 shares of company stock worth $1,158,978 in the last ninety days. 17.20% of the stock is owned by insiders.

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.