Fmr LLC Acquires 79,685 Shares of CarGurus Inc (NASDAQ:CARG)

FMR LLC increased its holdings in CarGurus Inc (NASDAQ:CARG) by 0.7% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,915,766 shares of the company’s stock after purchasing an additional 79,685 shares during the period. FMR LLC owned approximately 9.85% of CarGurus worth $437,286,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in CarGurus by 13.6% during the 4th quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock valued at $27,795,000 after buying an additional 98,854 shares during the period. 361 Capital LLC purchased a new stake in CarGurus during the 4th quarter valued at $2,336,000. The Manufacturers Life Insurance Company boosted its position in CarGurus by 4.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock valued at $300,238,000 after buying an additional 295,775 shares during the period. Metropolitan Life Insurance Co. NY boosted its position in CarGurus by 356.6% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 15,934 shares of the company’s stock valued at $537,000 after buying an additional 12,444 shares during the period. Finally, NEXT Financial Group Inc boosted its position in CarGurus by 50.1% during the 4th quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock valued at $187,000 after buying an additional 1,855 shares during the period. 74.79% of the stock is owned by institutional investors.

Shares of CarGurus stock traded up $0.51 during trading on Friday, hitting $37.97. The company’s stock had a trading volume of 409,735 shares, compared to its average volume of 1,041,627. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.74 and a quick ratio of 2.74. The business’s fifty day moving average price is $35.89. The firm has a market capitalization of $4.15 billion, a P/E ratio of 66.61, a PEG ratio of 4.14 and a beta of 1.83. CarGurus Inc has a 52 week low of $30.29 and a 52 week high of $57.25.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The company had revenue of $135.30 million during the quarter, compared to analyst estimates of $129.54 million. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. CarGurus’s quarterly revenue was up 37.2% compared to the same quarter last year. During the same period last year, the business earned $0.06 EPS. As a group, equities research analysts anticipate that CarGurus Inc will post 0.23 EPS for the current fiscal year.

CARG has been the subject of several analyst reports. Benchmark reissued a “buy” rating and set a $18.00 price target on shares of TEGNA in a research report on Friday, May 10th. Zacks Investment Research raised shares of DLH from a “sell” rating to a “hold” rating in a research report on Tuesday. SunTrust Banks decreased their price objective on shares of EOG Resources to $120.00 and set a “buy” rating for the company in a report on Wednesday, June 12th. DA Davidson set a $54.00 price objective on shares of CarGurus and gave the stock a “buy” rating in a report on Tuesday, March 26th. Finally, Cowen initiated coverage on shares of TrueCar in a report on Monday, May 20th. They issued a “hold” rating and a $7.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.92.

In other CarGurus news, insider Sarah Amory Welch sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $36.00, for a total transaction of $90,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anastasios Parafestas sold 188,049 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $38.69, for a total transaction of $7,275,615.81. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,003,225 shares of company stock valued at $111,922,092. 34.51% of the stock is owned by company insiders.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

Further Reading: Purposes and Functions of the Federal Reserve

Institutional Ownership by Quarter for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.