KBC Group NV Boosts Stock Holdings in CarGurus, Inc. (NASDAQ:CARG)

KBC Group NV grew its holdings in CarGurus, Inc. (NASDAQ:CARG) by 42.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,826 shares of the company’s stock after buying an additional 1,429 shares during the period. KBC Group NV’s holdings in CarGurus were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in CarGurus by 36.3% during the 4th quarter. Blue Trust Inc. now owns 14,833 shares of the company’s stock valued at $542,000 after acquiring an additional 3,952 shares during the period. Linden Thomas Advisory Services LLC bought a new stake in CarGurus during the 4th quarter valued at $201,000. Fifth Third Bancorp grew its holdings in CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after acquiring an additional 456 shares in the last quarter. Janney Montgomery Scott LLC increased its position in CarGurus by 10.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 9,244 shares of the company’s stock valued at $338,000 after purchasing an additional 845 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of CarGurus by 146.3% in the 4th quarter. SG Americas Securities LLC now owns 17,303 shares of the company’s stock valued at $632,000 after purchasing an additional 10,278 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Jason Trevisan sold 10,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the transaction, the chief executive officer now owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. This represents a 1.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares in the company, valued at $3,408,438.58. This represents a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,556 shares of company stock valued at $3,450,140. Company insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CARG shares. Needham & Company LLC increased their price objective on shares of CarGurus from $39.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Oppenheimer boosted their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Citigroup raised CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a report on Monday, December 16th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and an average price target of $38.41.

CarGurus Stock Up 1.4 %

CarGurus stock opened at $39.60 on Thursday. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -86.09, a price-to-earnings-growth ratio of 1.80 and a beta of 1.59. The stock has a 50-day moving average price of $37.66 and a 200 day moving average price of $32.56. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

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.