CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Foxhaven Asset Management LP

Foxhaven Asset Management LP reduced its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 42.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,171,853 shares of the company’s stock after selling 1,620,234 shares during the quarter. CarGurus comprises about 2.1% of Foxhaven Asset Management LP’s holdings, making the stock its 17th largest holding. Foxhaven Asset Management LP’s holdings in CarGurus were worth $79,360,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CARG. Allspring Global Investments Holdings LLC boosted its position in CarGurus by 16.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after buying an additional 34,555 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of CarGurus by 36.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock worth $3,210,000 after acquiring an additional 23,445 shares in the last quarter. Summit Global Investments purchased a new position in CarGurus in the fourth quarter valued at about $1,150,000. Friedenthal Financial acquired a new stake in CarGurus during the 4th quarter valued at approximately $767,000. Finally, Cookson Peirce & Co. Inc. increased its holdings in CarGurus by 59.6% during the 4th quarter. Cookson Peirce & Co. Inc. now owns 21,376 shares of the company’s stock worth $781,000 after purchasing an additional 7,982 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Needham & Company LLC reduced their target price on CarGurus from $45.00 to $39.00 and set a “buy” rating for the company in a research note on Friday. JMP Securities reduced their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating on the stock in a research note on Wednesday, April 9th. Oppenheimer dropped their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. cut shares of CarGurus from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $42.00 to $34.00 in a research report on Thursday, March 27th. Finally, UBS Group boosted their price objective on CarGurus from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Friday. Three 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $36.95.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 390,025 shares in the company, valued at approximately $12,004,969.50. The trade was a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the transaction, the chief executive officer now directly owns 129,790 shares of the company’s stock, valued at $3,469,286.70. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock valued at $907,856 in the last ninety days. Company insiders own 16.99% of the company’s stock.

CarGurus Trading Up 10.8 %

Shares of CarGurus stock opened at $30.97 on Friday. CarGurus, Inc. has a twelve month low of $21.65 and a twelve month high of $41.33. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 172.07, a PEG ratio of 1.72 and a beta of 1.45. The business’s 50 day simple moving average is $28.73 and its 200-day simple moving average is $33.72.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The company had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current 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.