Ismail Elshareef Sells 1,645 Shares of CarGurus (NASDAQ:CARG) Stock

CarGurus, Inc. (NASDAQ:CARG) insider Ismail Elshareef sold 1,645 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $32.21, for a total transaction of $52,985.45. Following the completion of the sale, the insider directly owned 91,822 shares in the company, valued at approximately $2,957,586.62. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

CarGurus Price Performance

Shares of CarGurus stock traded down $2.90 during trading on Tuesday, hitting $29.48. 1,731,488 shares of the stock were exchanged, compared to its average volume of 863,049. The firm’s 50-day moving average price is $36.50 and its 200 day moving average price is $35.29. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 1.32 and a beta of 1.35. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $40.37.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.CarGurus’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.45 earnings per share. 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, research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Congress Asset Management Co. purchased a new position in shares of CarGurus during the third quarter worth about $70,856,000. UBS Group AG lifted its position in CarGurus by 158.2% during the 3rd quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock worth $57,254,000 after acquiring an additional 942,199 shares during the period. Wellington Management Group LLP grew its stake in shares of CarGurus by 6.6% in the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after purchasing an additional 594,670 shares during the last quarter. Prevatt Capital Ltd grew its stake in shares of CarGurus by 28.1% in the 3rd quarter. Prevatt Capital Ltd now owns 2,050,000 shares of the company’s stock valued at $76,322,000 after purchasing an additional 450,000 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of CarGurus during the second quarter worth approximately $14,599,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CARG. Jefferies Financial Group upped their price target on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Wall Street Zen downgraded shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. DA Davidson set a $37.50 target price on shares of CarGurus in a report on Monday, November 17th. BTIG Research lifted their price target on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research note on Tuesday, December 30th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company 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.