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

Vitruvian Partners LLP lessened its stake in CarGurus, Inc. (NASDAQ:CARG) by 25.0% in the fourth quarter, HoldingsChannel reports. The fund owned 945,919 shares of the company’s stock after selling 315,300 shares during the period. CarGurus makes up about 29.8% of Vitruvian Partners LLP’s portfolio, making the stock its 2nd biggest position. Vitruvian Partners LLP’s holdings in CarGurus were worth $34,564,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of CARG. Point72 Hong Kong Ltd bought a new position in CarGurus during the 3rd quarter valued at approximately $28,000. Global Retirement Partners LLC raised its position in CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp raised its position in CarGurus by 100.0% during the 4th 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. Principal Securities Inc. raised its position in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the last quarter. Finally, USA Financial Formulas bought a new position in CarGurus during the 4th quarter valued at approximately $35,000. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CARG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Oppenheimer lowered their price target on CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. JMP Securities reaffirmed a “market outperform” rating and set a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $39.55.

Insider Buying and Selling

In related news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $163,872.40. Following the transaction, the chief executive officer now directly owns 120,051 shares of the company’s stock, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Matthew Todd Quinn sold 4,678 shares of the company’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 $167,378.84. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders have sold 61,888 shares of company stock worth $2,229,388 in the last 90 days. Insiders own 17.20% of the company’s stock.

CarGurus Stock Up 0.8 %

CarGurus stock opened at $30.11 on Friday. The company has a market capitalization of $3.14 billion, a P/E ratio of 167.29, a PEG ratio of 1.72 and a beta of 1.52. The stock’s 50 day moving average is $35.58 and its 200 day moving average is $34.21. CarGurus, Inc. has a twelve month low of $21.18 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results 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 company had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 EPS for the current year.

About CarGurus

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.