Thrivent Financial for Lutherans Sells 288,241 Shares of CarGurus, Inc. $CARG

Thrivent Financial for Lutherans lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 33.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 568,193 shares of the company’s stock after selling 288,241 shares during the quarter. Thrivent Financial for Lutherans owned about 0.57% of CarGurus worth $19,017,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of CarGurus during the 2nd quarter valued at approximately $27,000. Private Wealth Asset Management LLC bought a new stake in CarGurus during the 2nd quarter valued at $29,000. MAI Capital Management lifted its position in shares of CarGurus by 661.0% during the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after acquiring an additional 1,018 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of CarGurus during the first quarter worth $46,000. Finally, Fifth Third Bancorp boosted its holdings in shares of CarGurus by 121.7% in the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after acquiring an additional 779 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a report on Monday. Jefferies Financial Group upped their price target on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, December 11th. Wall Street Zen upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Zacks Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Finally, DA Davidson set a $37.50 price target on shares of CarGurus in a report on Monday, November 17th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, CarGurus has a consensus rating of “Hold” and an average target price of $40.41.

Insider Transactions at CarGurus

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the 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 transaction, the chief operating officer directly owned 410,259 shares in the company, valued at $14,350,859.82. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ismail Elshareef sold 1,228 shares of CarGurus stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total transaction of $42,955.44. Following the transaction, the insider directly owned 95,907 shares in the company, valued at $3,354,826.86. This trade represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 51,226 shares of company stock worth $1,850,682. 17.20% of the stock is currently owned by company insiders.

CarGurus Price Performance

Shares of CARG opened at $38.19 on Wednesday. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The company has a market capitalization of $3.65 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.79 and a beta of 1.42. The firm’s 50 day simple moving average is $35.42 and its 200 day simple moving average is $34.41.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $238.70 million during the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current year.

CarGurus Profile

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.