CarGurus, Inc. $CARG Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its stake in CarGurus, Inc. (NASDAQ:CARG) by 8.1% during the 1st quarter, HoldingsChannel reports. The firm owned 1,696,846 shares of the company’s stock after selling 148,823 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in CarGurus were worth $57,778,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Horizon Investments LLC boosted its position in shares of CarGurus by 2.0% in the fourth quarter. Horizon Investments LLC now owns 16,375 shares of the company’s stock worth $628,000 after buying an additional 318 shares during the period. ProShare Advisors LLC grew its stake in shares of CarGurus by 2.8% in the fourth quarter. ProShare Advisors LLC now owns 15,992 shares of the company’s stock valued at $613,000 after buying an additional 436 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of CarGurus by 4.2% during the 1st quarter. Ritholtz Wealth Management now owns 11,039 shares of the company’s stock valued at $376,000 after buying an additional 449 shares during the period. HighTower Advisors LLC raised its holdings in shares of CarGurus by 7.8% during the 4th quarter. HighTower Advisors LLC now owns 7,094 shares of the company’s stock valued at $272,000 after buying an additional 514 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its position in CarGurus by 1.6% during the 4th quarter. Illinois Municipal Retirement Fund now owns 43,583 shares of the company’s stock worth $1,671,000 after acquiring an additional 679 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Javier Zamora sold 8,072 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $29.53, for a total value of $238,366.16. Following the completion of the sale, the general counsel directly owned 103,061 shares of the company’s stock, valued at $3,043,391.33. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total value of $86,365.44. Following the sale, the insider owned 92,894 shares in the company, valued at $3,210,416.64. The trade was a 2.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 25,559 shares of company stock worth $841,568. Corporate insiders own 18.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Citigroup began coverage on CarGurus in a report on Friday, June 12th. They issued a “buy” rating for the company. Piper Sandler reissued a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. UBS Group set a $35.00 target price on shares of CarGurus in a research note on Thursday, May 28th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Weiss Ratings lowered shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.55.

CarGurus Price Performance

NASDAQ CARG opened at $37.07 on Thursday. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $39.42. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of 24.39, a price-to-earnings-growth ratio of 1.33 and a beta of 1.18. The company’s fifty day moving average price is $31.71 and its two-hundred day moving average price is $32.60.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $243.56 million during the quarter, compared to the consensus estimate of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The company’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, analysts anticipate that CarGurus, Inc. will post 2.11 EPS for the current year.

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.