Victory Capital Management Inc. Has $4.15 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Victory Capital Management Inc. increased its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 19.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 113,672 shares of the company's stock after purchasing an additional 18,733 shares during the quarter. Victory Capital Management Inc. owned 0.11% of CarGurus worth $4,154,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in CarGurus by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,073,810 shares of the company's stock valued at $39,237,000 after acquiring an additional 30,593 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in CarGurus by 39.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,575 shares of the company's stock valued at $167,000 after buying an additional 1,301 shares during the period. Smartleaf Asset Management LLC lifted its position in CarGurus by 528.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,765 shares of the company's stock valued at $102,000 after buying an additional 2,325 shares in the last quarter. US Bancorp DE lifted its position in CarGurus by 246.6% during the fourth quarter. US Bancorp DE now owns 3,258 shares of the company's stock valued at $119,000 after buying an additional 2,318 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its position in shares of CarGurus by 6.6% during the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock worth $281,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

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Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CTO Matthew Todd Quinn sold 4,678 shares of CarGurus stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the sale, the chief technology officer now directly owns 195,795 shares in the company, valued at $7,005,545.10. This trade represents a 2.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 9,857 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $36.62, for a total value of $360,963.34. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $15,923,145.02. This trade represents a 2.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 61,888 shares of company stock worth $2,229,388 over the last three months. 17.20% of the stock is currently owned by corporate insiders.

CarGurus Trading Up 0.6 %

CarGurus stock traded up $0.18 during trading hours on Wednesday, reaching $30.11. 1,322,594 shares of the company were exchanged, compared to its average volume of 774,237. The firm has a market cap of $3.14 billion, a price-to-earnings ratio of 167.19, a PEG ratio of 1.72 and a beta of 1.52. The stock has a 50-day moving average of $35.98 and a 200 day moving average of $34.22. CarGurus, Inc. has a 12 month low of $21.18 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued 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 firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

CarGurus Company 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.