CarGurus, Inc. $CARG Shares Sold by Great Lakes Advisors LLC

Great Lakes Advisors LLC decreased its stake in CarGurus, Inc. (NASDAQ:CARG) by 48.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,277 shares of the company’s stock after selling 114,669 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.12% of CarGurus worth $4,552,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB raised its position in shares of CarGurus by 6.7% in the second quarter. Nordea Investment Management AB now owns 336,930 shares of the company’s stock valued at $11,247,000 after buying an additional 21,167 shares during the last quarter. Congress Asset Management Co. acquired a new position in CarGurus during the third quarter worth about $70,856,000. Dynamic Technology Lab Private Ltd purchased a new stake in CarGurus during the 2nd quarter valued at about $379,000. Voya Investment Management LLC raised its holdings in CarGurus by 82.7% in the 3rd quarter. Voya Investment Management LLC now owns 141,559 shares of the company’s stock valued at $5,270,000 after acquiring an additional 64,094 shares during the last quarter. Finally, Capital Fund Management S.A. lifted its stake in CarGurus by 252.6% in the 2nd quarter. Capital Fund Management S.A. now owns 186,106 shares of the company’s stock worth $6,229,000 after purchasing an additional 133,331 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Down 1.8%

Shares of CarGurus stock opened at $32.40 on Friday. The firm has a market cap of $3.09 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.35 and a beta of 1.36. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $40.69. The business’s fifty day simple moving average is $36.55 and its 200-day simple moving average is $35.28.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data 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. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The firm had revenue of $238.70 million for the quarter, compared to analyst estimates of $234.57 million. During the same period in the previous year, the firm earned $0.45 EPS. CarGurus’s revenue was up 3.2% on a year-over-year basis. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. As a group, equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Transactions at CarGurus

In other news, CEO Jason Trevisan sold 16,548 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $39.02, for a total transaction of $645,702.96. Following the sale, the chief executive officer owned 630,483 shares of the company’s stock, valued at approximately $24,601,446.66. This represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the transaction, the chief operating officer owned 410,259 shares of the company’s stock, valued at $14,350,859.82. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 58,586 shares of company stock worth $2,198,264 over the last quarter. 16.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wall Street Zen cut CarGurus from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Citigroup upped their target price on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c+)” rating on shares of CarGurus in a report on Monday, December 29th. UBS Group upped their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $40.86.

About CarGurus

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.