CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Bayesian Capital Management LP

Bayesian Capital Management LP lessened its stake in CarGurus, Inc. (NASDAQ:CARG) by 69.3% during the first quarter, HoldingsChannel.com reports. The firm owned 12,487 shares of the company’s stock after selling 28,213 shares during the period. Bayesian Capital Management LP’s holdings in CarGurus were worth $288,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of CarGurus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock valued at $235,382,000 after purchasing an additional 107,244 shares in the last quarter. Wellington Management Group LLP grew its position in shares of CarGurus by 39.6% during the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock valued at $137,856,000 after buying an additional 1,619,076 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of CarGurus by 6.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,208,420 shares of the company’s stock valued at $53,357,000 after buying an additional 126,216 shares during the last quarter. Prevatt Capital Ltd bought a new stake in shares of CarGurus during the 4th quarter valued at about $24,160,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of CarGurus by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 924,731 shares of the company’s stock valued at $22,342,000 after buying an additional 48,886 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction that occurred on 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 directly owns 488,083 shares of the company’s stock, valued at $12,929,318.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the transaction, the chief technology officer now owns 217,374 shares of the company’s stock, valued at approximately $5,414,786.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was 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 directly owns 488,083 shares of the company’s stock, valued at approximately $12,929,318.67. The disclosure for this sale can be found here. Insiders sold a total of 83,494 shares of company stock valued at $2,119,722 over the last ninety days. Insiders own 17.20% of the company’s stock.

CarGurus Trading Up 0.5 %

Shares of NASDAQ:CARG opened at $24.82 on Thursday. The company has a 50 day moving average of $25.13 and a 200-day moving average of $23.80. The firm has a market cap of $2.59 billion, a P/E ratio of 88.64, a P/E/G ratio of 1.43 and a beta of 1.57. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $26.90.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $30.00 price objective on shares of CarGurus in a research report on Wednesday, July 10th. Needham & Company LLC boosted their price objective 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 upped their target price on shares of CarGurus from $22.00 to $25.50 and gave the stock a “neutral” rating in a research report on Monday, May 13th. Citigroup upped their target price on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 3rd. Finally, Royal Bank of Canada upped their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

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.