Vitruvian Partners LLP Has $34.56 Million Position in CarGurus, Inc. (NASDAQ:CARG)

Vitruvian Partners LLP lessened its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 25.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 945,919 shares of the company's stock after selling 315,300 shares during the period. CarGurus accounts for 29.8% of Vitruvian Partners LLP's portfolio, making the stock its 2nd biggest holding. Vitruvian Partners LLP owned about 0.91% of CarGurus worth $34,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CARG. Louisiana State Employees Retirement System lifted its stake in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock valued at $1,553,000 after purchasing an additional 300 shares during the last quarter. Principal Securities Inc. raised its position in shares of CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after purchasing an additional 424 shares during the period. Fifth Third Bancorp lifted its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock valued at $33,000 after purchasing an additional 456 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of CarGurus by 6.6% in the 4th quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock valued at $281,000 after purchasing an additional 475 shares during the period. Finally, Hillsdale Investment Management Inc. increased its stake in CarGurus by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 133,450 shares of the company's stock worth $4,876,000 after purchasing an additional 500 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

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CarGurus Stock Down 4.0 %

Shares of CARG traded down $1.24 during midday trading on Thursday, reaching $30.09. 543,486 shares of the stock were exchanged, compared to its average volume of 1,102,661. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 166.79, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 12-month low of $21.18 and a 12-month high of $41.33. The firm has a 50 day simple moving average of $35.41 and a 200-day simple moving average of $34.31.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a net margin of 2.34% and a return on equity of 27.14%. Research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Needham & Company LLC reissued a "buy" rating and issued a $45.00 target price on shares of CarGurus in a research report on Friday, February 21st. Oppenheimer cut their target price on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research note on Monday, February 24th. JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday. Finally, JMP Securities reissued a "market outperform" rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $38.75.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the business's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares of the company's stock, valued at $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Dafna Sarnoff sold 10,570 shares of the firm's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $378,194.60. Following the completion of the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,888 shares of company stock valued at $2,229,388. Insiders own 17.20% of the company's stock.

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.