42,800 Shares in CarGurus, Inc. $CARG Bought by Jefferies Financial Group Inc.

Jefferies Financial Group Inc. purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 42,800 shares of the company’s stock, valued at approximately $1,334,000.

Other hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in CarGurus in the 2nd quarter valued at $15,631,000. Pale Fire Capital SE acquired a new position in CarGurus in the 2nd quarter valued at $13,112,000. Lazard Asset Management LLC increased its position in CarGurus by 180.8% during the 1st quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock worth $15,182,000 after buying an additional 287,067 shares during the period. Assenagon Asset Management S.A. increased its position in CarGurus by 159.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 351,886 shares of the company’s stock worth $10,965,000 after buying an additional 216,304 shares during the period. Finally, Bessemer Group Inc. increased its position in CarGurus by 18.2% during the 1st quarter. Bessemer Group Inc. now owns 1,085,061 shares of the company’s stock worth $36,945,000 after buying an additional 166,954 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CARG has been the subject of a number of recent research reports. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, October 31st. Oppenheimer raised their price target on shares of CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. B. Riley Financial reaffirmed a “buy” rating on shares of CarGurus in a research report on Friday, August 7th. Barclays lifted their price objective on shares of CarGurus from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, November 9th. Finally, Citigroup boosted their price objective on shares of CarGurus from $39.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, November 9th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $40.25.

CarGurus Price Performance

NASDAQ:CARG traded up $0.54 during trading hours on Friday, reaching $34.81. 775,456 shares of the company were exchanged, compared to its average volume of 1,327,858. The company has a market capitalization of $3.11 billion, a P/E ratio of 17.58, a P/E/G ratio of 0.75 and a beta of 1.22. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $41.22. The business has a 50 day moving average of $32.11 and a 200 day moving average of $32.86.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, November 5th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.04. The firm had revenue of $258.37 million for the quarter, compared to analyst estimates of $256.46 million. CarGurus had a return on equity of 68.43% and a net margin of 18.51%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. As a group, equities research analysts anticipate that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CTO Matthew Quinn sold 3,824 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.62, for a total value of $113,266.88. Following the transaction, the chief technology officer owned 220,193 shares in the company, valued at approximately $6,522,116.66. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Dafna Sarnoff sold 7,234 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.62, for a total value of $214,271.08. Following the completion of the transaction, the chief marketing officer directly owned 94,884 shares of the company’s stock, valued at approximately $2,810,464.08. This trade represents a 7.08% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 55,695 shares of company stock valued at $1,807,808. 18.19% of the stock is owned by insiders.

CarGurus Company Profile

CarGurus, Inc. operates an online automotive marketplace that helps consumers research and compare vehicles and connect with dealerships. Its website and mobile apps feature new and used vehicle listings, search tools, vehicle information and pricing insights designed to help shoppers evaluate available cars. The company also provides dealerships with products and services to market inventory and engage with potential buyers through its platform. CarGurus was founded in 2006 by Langley Steinert, who previously co-founded TripAdvisor, and is headquartered in Cambridge, Massachusetts.