Victory Capital Management Inc. Acquires 29,674 Shares of CarGurus, Inc. (NASDAQ:CARG)

Victory Capital Management Inc. lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 45.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,939 shares of the company's stock after acquiring an additional 29,674 shares during the quarter. Victory Capital Management Inc. owned 0.09% of CarGurus worth $2,851,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CARG. Vanguard Group Inc. boosted its stake in CarGurus by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company's stock valued at $235,382,000 after acquiring an additional 107,244 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in CarGurus by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 1,461,119 shares of the company's stock valued at $38,282,000 after buying an additional 89,346 shares during the last quarter. Select Equity Group L.P. raised its stake in CarGurus by 2.8% during the second quarter. Select Equity Group L.P. now owns 1,145,692 shares of the company's stock valued at $30,017,000 after buying an additional 31,431 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in CarGurus by 26.5% during the 2nd quarter. Fort Washington Investment Advisors Inc. OH now owns 1,090,335 shares of the company's stock worth $28,567,000 after buying an additional 228,380 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in CarGurus by 2.2% during the 2nd quarter. Raymond James & Associates now owns 534,939 shares of the company's stock worth $14,015,000 after buying an additional 11,584 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of the firm's stock in a transaction dated Monday, November 18th. The shares were 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 directly owns 779,606 shares in the company, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Dafna Sarnoff sold 4,127 shares of the company's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $29.94, for a total transaction of $123,562.38. Following the completion of the sale, the chief marketing officer now owns 119,330 shares of the company's stock, valued at approximately $3,572,740.20. This trade represents a 3.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,065 shares of company stock valued at $2,356,336. Corporate insiders own 17.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CARG shares. JPMorgan Chase & Co. increased their target price on shares of CarGurus from $36.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. JMP Securities increased their price objective on shares of CarGurus from $41.00 to $46.00 and gave the stock a "market outperform" rating in a research note on Friday. Oppenheimer lifted their target price on CarGurus from $32.00 to $44.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Needham & Company LLC upped their target price on CarGurus from $27.00 to $39.00 and gave the company a "buy" rating in a report on Friday, November 8th. Finally, Royal Bank of Canada raised their price target on CarGurus from $30.00 to $42.00 and gave the stock an "outperform" rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $37.86.

CarGurus Trading Down 0.3 %

Shares of NASDAQ CARG traded down $0.11 during midday trading on Friday, reaching $35.62. The company's stock had a trading volume of 674,881 shares, compared to its average volume of 687,224. CarGurus, Inc. has a one year low of $21.02 and a one year high of $37.94. The company has a market cap of $3.69 billion, a price-to-earnings ratio of -77.43, a price-to-earnings-growth ratio of 1.88 and a beta of 1.55. The company has a 50 day moving average price of $31.86 and a 200 day moving average price of $27.83.

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.