Vitruvian Partners LLP Reduces Stock Position in CarGurus, Inc. (NASDAQ:CARG)

Vitruvian Partners LLP reduced its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 25.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 945,919 shares of the company’s stock after selling 315,300 shares during the quarter. CarGurus makes up about 29.8% of Vitruvian Partners LLP’s holdings, making the stock its 2nd largest position. Vitruvian Partners LLP owned about 0.91% of CarGurus worth $34,564,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CARG. Atria Investments Inc bought a new stake in CarGurus during the third quarter worth $247,000. Victory Capital Management Inc. lifted its holdings in CarGurus by 45.5% during the third quarter. Victory Capital Management Inc. now owns 94,939 shares of the company’s stock worth $2,851,000 after acquiring an additional 29,674 shares during the period. Natixis Advisors LLC lifted its holdings in CarGurus by 46.6% during the third quarter. Natixis Advisors LLC now owns 23,248 shares of the company’s stock worth $698,000 after acquiring an additional 7,393 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in CarGurus in the third quarter worth $1,072,000. Finally, Intech Investment Management LLC purchased a new stake in CarGurus in the third quarter worth $673,000. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Up 0.8 %

CarGurus stock opened at $30.11 on Friday. CarGurus, Inc. has a 52 week low of $21.18 and a 52 week high of $41.33. The business has a 50-day simple moving average of $35.58 and a 200 day simple moving average of $34.21. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 167.29, a PEG ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last posted 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). 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 analysts’ expectations of $231.72 million. On average, research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In related 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 transaction of $767,200.00. Following the completion of the transaction, the chief operating officer now directly owns 400,025 shares in the company, valued at $15,344,959. The trade was a 4.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief technology officer now directly owns 195,795 shares of the company’s stock, valued at approximately $7,005,545.10. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,888 shares of company stock worth $2,229,388 over the last ninety days. 17.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. 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. JMP Securities reissued a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a research report on Monday, December 16th. Oppenheimer decreased their target price on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. raised their target price on CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price 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.