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

Victory Capital Management Inc. boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 19.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 113,672 shares of the company’s stock after purchasing an additional 18,733 shares during the quarter. Victory Capital Management Inc.’s holdings in CarGurus were worth $4,154,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock valued at $8,748,000 after purchasing an additional 34,555 shares during the period. Los Angeles Capital Management LLC raised its position in CarGurus by 36.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 87,862 shares of the company’s stock valued at $3,210,000 after purchasing an additional 23,445 shares during the period. State Street Corp raised its position 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 purchasing an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. raised its position 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 purchasing an additional 89,815 shares during the period. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of CarGurus during the third quarter worth about $503,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

CarGurus Stock Up 2.1 %

Shares of CARG stock opened at $30.78 on Friday. The business has a 50 day moving average of $36.23 and a two-hundred day moving average of $34.16. The company has a market cap of $3.21 billion, a P/E ratio of 171.01, a PEG 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 quarterly earnings data 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). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The business had revenue of $228.54 million for the quarter, compared to analyst estimates of $231.72 million. Analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In other CarGurus news, COO Samuel Zales sold 7,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now owns 434,821 shares of the company’s stock, valued at approximately $16,392,751.70. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the transaction, the chief technology officer now directly owns 195,795 shares in the company, valued at $7,005,545.10. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,388 shares of company stock valued at $2,204,338 over the last quarter. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CARG. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Oppenheimer dropped their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. One 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $39.55.

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.