CarGurus, Inc. (NASDAQ:CARG) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in CarGurus, Inc. (NASDAQ:CARG) by 19.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,672 shares of the company’s stock after buying an additional 18,733 shares during the quarter. Victory Capital Management Inc. owned 0.11% of CarGurus worth $4,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in shares of CarGurus in the third quarter valued at $28,000. Global Retirement Partners LLC grew its stake in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after buying an additional 532 shares in the last quarter. Fifth Third Bancorp grew its stake 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 purchasing an additional 456 shares in the last quarter. Principal Securities Inc. grew its stake in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in CarGurus during the 4th quarter worth $35,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the sale, the chief technology officer now owns 195,795 shares in the company, valued at approximately $7,005,545.10. This represents a 2.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,388 shares of company stock valued at $2,204,338 in the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CARG. Oppenheimer lowered their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of CarGurus in a report on Friday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $39.55.

CarGurus Stock Up 2.1 %

CARG opened at $30.78 on Friday. The business has a 50 day moving average price of $36.23 and a two-hundred day moving average price of $34.16. The company has a market cap of $3.21 billion, a PE ratio of 171.01, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, sell-side analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

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.