Marshall Wace LLP boosted its stake in shares of CarGurus Inc (NASDAQ:CARG) by 401.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 418,467 shares of the company’s stock after buying an additional 335,029 shares during the period. Marshall Wace LLP owned approximately 0.38% of CarGurus worth $23,304,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in CARG. Cubist Systematic Strategies LLC acquired a new stake in CarGurus during the 2nd quarter worth approximately $205,000. NEXT Financial Group Inc acquired a new stake in CarGurus during the 3rd quarter worth approximately $206,000. CIBC Asset Management Inc acquired a new stake in CarGurus during the 3rd quarter worth approximately $209,000. NumerixS Investment Technologies Inc acquired a new stake in CarGurus during the 2nd quarter worth approximately $227,000. Finally, LPL Financial LLC acquired a new stake in CarGurus during the 3rd quarter worth approximately $234,000. Hedge funds and other institutional investors own 68.67% of the company’s stock.
In related news, Director Anastasios Parafestas sold 120,000 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $48.54, for a total value of $5,824,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Michael Caputo sold 3,093 shares of the firm’s stock in a transaction on Friday, October 5th. The shares were sold at an average price of $49.99, for a total transaction of $154,619.07. The disclosure for this sale can be found here. Insiders have sold a total of 4,817,674 shares of company stock valued at $231,547,583 over the last ninety days. Company insiders own 51.03% of the company’s stock.
Shares of CARG opened at $35.34 on Friday. The company has a market cap of $4.12 billion, a PE ratio of 294.50, a price-to-earnings-growth ratio of 57.55 and a beta of 1.83. CarGurus Inc has a twelve month low of $28.52 and a twelve month high of $57.25.
CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.03. The company had revenue of $119.04 million during the quarter, compared to analysts’ expectations of $112.70 million. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The business’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period last year, the business earned $0.02 EPS. On average, equities research analysts predict that CarGurus Inc will post 0.13 earnings per share for the current fiscal year.
Several analysts have commented on CARG shares. Zacks Investment Research downgraded shares of CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. ValuEngine upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. BidaskClub downgraded shares of CarGurus from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 3rd. Royal Bank of Canada raised their target price on shares of CarGurus from $55.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, November 8th. Finally, BTIG Research started coverage on shares of CarGurus in a report on Tuesday, November 13th. They set a “buy” rating and a $48.00 target price on the stock. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.75.
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CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.
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