CarGurus, Inc. (NASDAQ:CARG) Holdings Increased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 45.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,939 shares of the company’s stock after buying an additional 29,674 shares during the quarter. Victory Capital Management Inc.’s holdings in CarGurus were worth $2,851,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UniSuper Management Pty Ltd bought a new stake in shares of CarGurus during the 1st quarter worth about $483,000. Swedbank AB bought a new stake in shares of CarGurus during the 1st quarter worth about $1,352,000. Los Angeles Capital Management LLC raised its position in shares of CarGurus by 51.9% during the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock worth $1,934,000 after buying an additional 22,004 shares in the last quarter. SG Capital Management LLC acquired a new position in shares of CarGurus in the 1st quarter worth approximately $4,222,000. Finally, Vanguard Group Inc. grew its stake in shares of CarGurus by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 10,198,538 shares of the company’s stock worth $235,382,000 after purchasing an additional 107,244 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Performance

Shares of CARG opened at $35.62 on Friday. The company’s 50 day moving average price is $31.86 and its 200 day moving average price is $27.79. CarGurus, Inc. has a 52 week low of $21.02 and a 52 week high of $37.94. The company has a market capitalization of $3.69 billion, a PE ratio of -77.43, a PEG ratio of 1.88 and a beta of 1.55.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group lifted their price objective on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Oppenheimer lifted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. JMP Securities lifted 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Two analysts have 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.86.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.43, for a total value of $891,702.24. Following the completion of the sale, the chief operating officer now directly owns 442,321 shares in the company, valued at $15,671,433.03. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.41, for a total transaction of $354,100.00. Following the completion of the sale, the chief executive officer now owns 779,606 shares of the company’s stock, valued at $27,605,848.46. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,065 shares of company stock valued at $2,356,336. Corporate insiders own 17.20% of the company’s stock.

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.