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

Proficio Capital Partners LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 10,231 shares of the company’s stock, valued at approximately $374,000.

A number of other hedge funds also recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in shares of CarGurus in the third quarter valued at approximately $28,000. Global Retirement Partners LLC increased its position in CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp raised its stake in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Principal Securities Inc. boosted its holdings in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of CarGurus in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Price Performance

CARG opened at $31.75 on Wednesday. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 176.40, a PEG ratio of 1.72 and a beta of 1.52. The business has a fifty day moving average price of $35.49 and a 200 day moving average price of $34.28. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

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

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 9,857 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the completion of the sale, the chief operating officer now owns 434,821 shares in the company, valued at approximately $15,923,145.02. The trade was a 2.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the completion of the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at $4,421,271.96. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 61,888 shares of company stock valued at $2,229,388 over the last three months. 17.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a report on Monday, December 16th. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $39.55.

About CarGurus

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.