Voya Investment Management LLC Has $5.27 Million Holdings in CarGurus, Inc. $CARG

Voya Investment Management LLC boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 82.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 141,559 shares of the company’s stock after purchasing an additional 64,094 shares during the period. Voya Investment Management LLC’s holdings in CarGurus were worth $5,270,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CARG. Acadian Asset Management LLC grew its holdings in CarGurus by 185.2% during the 1st quarter. Acadian Asset Management LLC now owns 835,244 shares of the company’s stock worth $24,314,000 after acquiring an additional 542,382 shares during the period. Mount Capital Ltd acquired a new position in shares of CarGurus in the 1st quarter valued at about $15,270,000. Select Equity Group L.P. boosted its position in shares of CarGurus by 106.6% during the 1st quarter. Select Equity Group L.P. now owns 913,975 shares of the company’s stock valued at $26,624,000 after purchasing an additional 471,691 shares in the last quarter. Divisadero Street Capital Management LP acquired a new stake in CarGurus during the second quarter worth approximately $14,599,000. Finally, Squarepoint Ops LLC grew its stake in CarGurus by 1,457.7% during the second quarter. Squarepoint Ops LLC now owns 403,447 shares of the company’s stock worth $13,503,000 after purchasing an additional 377,547 shares during the period. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. DA Davidson set a $37.50 price target on CarGurus in a research note on Monday, November 17th. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. BTIG Research reiterated a “buy” rating and set a $39.00 target price on shares of CarGurus in a research report on Friday, September 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research note on Monday. Finally, Jefferies Financial Group lifted their price target on shares of CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.41.

Insider Buying and Selling at CarGurus

In related news, insider Ismail Elshareef sold 1,228 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.98, for a total value of $42,955.44. Following the transaction, the insider owned 95,907 shares of the company’s stock, valued at approximately $3,354,826.86. This trade represents a 1.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the transaction, the insider owned 54,807 shares of the company’s stock, valued at $2,021,282.16. This trade represents a 15.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,226 shares of company stock valued at $1,850,682 over the last three months. Corporate insiders own 16.99% of the company’s stock.

CarGurus Stock Down 0.4%

Shares of NASDAQ:CARG opened at $38.89 on Friday. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33. The stock’s 50 day moving average is $36.01 and its 200-day moving average is $34.72. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 1.81 and a beta of 1.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $238.70 million during the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. CarGurus’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. Equities research analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.