Proficio Capital Partners LLC Makes New $374,000 Investment in CarGurus, Inc. (NASDAQ:CARG)

Proficio Capital Partners LLC acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,231 shares of the company’s stock, valued at approximately $374,000.

A number of other large investors also recently modified their holdings of the business. Loomis Sayles & Co. L P acquired a new stake in CarGurus during the third quarter worth approximately $21,052,000. State Street Corp increased its stake in CarGurus by 4.8% in the third quarter. State Street Corp now owns 3,298,894 shares of the company’s stock valued at $99,066,000 after acquiring an additional 151,862 shares during the last quarter. Barclays PLC increased its stake in CarGurus by 252.2% in the third quarter. Barclays PLC now owns 169,461 shares of the company’s stock valued at $5,089,000 after acquiring an additional 121,341 shares during the last quarter. Moody Aldrich Partners LLC bought a new position in CarGurus in the fourth quarter valued at approximately $3,852,000. Finally, Charles Schwab Investment Management Inc. increased its stake in CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the sale, the chief marketing officer now directly owns 95,261 shares of the company’s stock, valued at approximately $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the completion of the sale, the chief operating officer now directly owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,388 shares of company stock worth $2,204,338 over the last quarter. Company insiders own 17.20% of the company’s stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $30.88 on Tuesday. The firm has a market cap of $3.22 billion, a PE ratio of 171.57, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. The firm’s fifty day moving average is $36.77 and its 200-day moving average is $34.11. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

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

Analyst Ratings Changes

CARG has been the topic of a number of research analyst reports. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. B. Riley raised their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Royal Bank of Canada raised their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Oppenheimer cut their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, Needham & Company LLC restated a “buy” rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $38.41.

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.