Renaissance Technologies LLC Has $11.70 Million Stock Position in CarGurus, Inc. $CARG

Renaissance Technologies LLC boosted its holdings in CarGurus, Inc. (NASDAQ:CARG) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 343,727 shares of the company’s stock after buying an additional 26,300 shares during the period. Renaissance Technologies LLC owned approximately 0.36% of CarGurus worth $11,704,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CARG. Brown Brothers Harriman & Co. bought a new stake in shares of CarGurus in the third quarter valued at approximately $46,000. Torren Management LLC acquired a new stake in shares of CarGurus in the fourth quarter worth $49,000. EverSource Wealth Advisors LLC increased its position in CarGurus by 491.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after acquiring an additional 1,362 shares during the period. Clearstead Advisors LLC increased its position in CarGurus by 321.2% during the fourth quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after acquiring an additional 1,622 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in CarGurus by 356.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock valued at $83,000 after purchasing an additional 1,697 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on CARG. Needham & Company LLC increased their price target on shares of CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. Freedom Capital upgraded shares of CarGurus to a “strong-buy” rating in a report on Friday, June 12th. Citigroup started coverage on shares of CarGurus in a research report on Friday, June 12th. They set 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. Finally, UBS Group set a $35.00 target price on CarGurus in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $38.55.

Insider Activity at CarGurus

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

CarGurus Price Performance

CarGurus stock opened at $36.24 on Friday. The firm has a market capitalization of $3.27 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.32 and a beta of 1.18. The stock has a fifty day moving average price of $32.03 and a two-hundred day moving average price of $32.60. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $39.42.

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