Inflection Point Investments LLP Buys Shares of 710,009 CarGurus, Inc. (NASDAQ:CARG)

Inflection Point Investments LLP purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 710,009 shares of the company's stock, valued at approximately $17,154,000. CarGurus makes up about 14.9% of Inflection Point Investments LLP's holdings, making the stock its 2nd biggest holding. Inflection Point Investments LLP owned approximately 0.63% of CarGurus at the end of the most recent quarter.

• CarGurus Stock is Set for a Rally This Quarter, Above all Peers

Other institutional investors have also modified their holdings of the company. M&T Bank Corp lifted its holdings in shares of CarGurus by 0.8% during the 3rd quarter. M&T Bank Corp now owns 104,052 shares of the company's stock worth $1,823,000 after acquiring an additional 850 shares during the period. GAMMA Investing LLC acquired a new position in shares of CarGurus in the 4th quarter valued at $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of CarGurus by 10.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,079 shares of the company's stock valued at $437,000 after buying an additional 1,653 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of CarGurus during the 3rd quarter worth $32,000. Finally, PNC Financial Services Group Inc. raised its position in shares of CarGurus by 298.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company's stock worth $52,000 after buying an additional 2,210 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on CarGurus from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, May 10th. Needham & Company LLC raised their price target on shares of CarGurus from $24.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 10th. Oppenheimer boosted their price objective on shares of CarGurus from $26.00 to $30.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 27th. JMP Securities reissued a "market perform" rating on shares of CarGurus in a research note on Wednesday, April 17th. Finally, UBS Group upped their price target on shares of CarGurus from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Friday, March 15th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.77.

• Last chance to prepare your portfolio for tax season

Check Out Our Latest Stock Report on CARG

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 17,668 shares of the firm's stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at $11,756,259.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other CarGurus news, insider Andrea Lee Eldridge sold 22,358 shares of the firm's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $494,782.54. Following the transaction, the insider now owns 117,432 shares of the company's stock, valued at approximately $2,598,770.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 17,668 shares of the firm's stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total transaction of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 131,461 shares of company stock worth $2,960,272. 15.70% of the stock is currently owned by corporate insiders.

CarGurus Stock Down 0.1 %

• Why Analysts Love These 2 Car Sales Platforms, And Avoid Dealers

Shares of CARG traded down $0.02 during trading on Friday, reaching $23.78. The company's stock had a trading volume of 747,561 shares, compared to its average volume of 973,228. CarGurus, Inc. has a twelve month low of $16.70 and a twelve month high of $24.98. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 84.93, a P/E/G ratio of 1.51 and a beta of 1.57. The company has a fifty day moving average of $22.94 and a two-hundred day moving average of $22.56.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The company's revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.25 EPS. As a group, equities analysts forecast that CarGurus, Inc. will post 0.94 EPS for the current fiscal year.

CarGurus Company 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.

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