CarGurus, Inc. (NASDAQ:CARG) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 89.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,735 shares of the company’s stock after selling 153,616 shares during the quarter. Edgestream Partners L.P.’s holdings in CarGurus were worth $491,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARG. CWM LLC increased its stake in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the period. Nisa Investment Advisors LLC increased its stake in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after buying an additional 479 shares during the period. Headlands Technologies LLC purchased a new stake in CarGurus during the 1st quarter worth $49,000. GAMMA Investing LLC increased its stake in CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after buying an additional 425 shares during the period. Finally, nVerses Capital LLC purchased a new stake in CarGurus during the 2nd quarter worth $102,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the sale, the chief operating officer now owns 488,083 shares in the company, valued at approximately $12,929,318.67. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CTO Matthew Todd Quinn sold 3,978 shares of the company’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 sale, the chief technology officer now owns 217,374 shares in the company, valued at approximately $5,414,786.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company’s 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 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 have sold 57,421 shares of company stock worth $1,567,354 over the last 90 days. 17.20% of the stock is owned by company insiders.

CarGurus Price Performance

NASDAQ CARG opened at $30.35 on Monday. The company’s 50 day simple moving average is $27.01 and its 200 day simple moving average is $24.93. CarGurus, Inc. has a 12 month low of $16.70 and a 12 month high of $30.99. The company has a market capitalization of $3.16 billion, a P/E ratio of 108.39, a PEG ratio of 1.33 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The business had revenue of $218.69 million for the quarter, compared to the consensus estimate of $214.85 million. On average, analysts anticipate that CarGurus, Inc. will post 1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. DA Davidson reaffirmed a “neutral” rating and set a $26.50 price target on shares of CarGurus in a research note on Tuesday, September 10th. Citigroup boosted 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. Royal Bank of Canada boosted their target price on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. BTIG Research boosted their target price on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Oppenheimer boosted their target price on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.35.

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.