JPMorgan Chase & Co. Increases Stake in CarGurus, Inc. $CARG

JPMorgan Chase & Co. lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 17.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 545,636 shares of the company’s stock after acquiring an additional 82,511 shares during the period. JPMorgan Chase & Co.’s holdings in CarGurus were worth $20,314,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Congress Asset Management Co. purchased a new position in shares of CarGurus during the third quarter valued at approximately $70,856,000. Envestnet Asset Management Inc. lifted its stake in shares of CarGurus by 100.3% during the 3rd quarter. Envestnet Asset Management Inc. now owns 102,818 shares of the company’s stock worth $3,828,000 after acquiring an additional 51,487 shares during the last quarter. Federated Hermes Inc. boosted its holdings in CarGurus by 11.5% during the 3rd quarter. Federated Hermes Inc. now owns 465,978 shares of the company’s stock valued at $17,348,000 after acquiring an additional 48,177 shares during the period. Voya Investment Management LLC grew its position 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, Public Sector Pension Investment Board increased its stake in CarGurus by 29.0% in the third quarter. Public Sector Pension Investment Board now owns 372,214 shares of the company’s stock worth $13,858,000 after purchasing an additional 83,700 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Jason Trevisan sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $37.00, for a total value of $740,000.00. Following the completion of the transaction, the chief executive officer directly owned 655,483 shares of the company’s stock, valued at approximately $24,252,871. The trade was a 2.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Ismail Elshareef sold 1,645 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $32.21, for a total value of $52,985.45. Following the sale, the insider directly owned 91,822 shares in the company, valued at approximately $2,957,586.62. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,003 shares of company stock worth $1,858,494. 17.20% of the stock is currently owned by company insiders.

CarGurus Stock Performance

NASDAQ:CARG opened at $31.31 on Tuesday. The firm has a 50-day simple moving average of $33.26 and a 200-day simple moving average of $34.81. CarGurus, Inc. has a one year low of $24.65 and a one year high of $39.42. The firm has a market cap of $2.98 billion, a P/E ratio of 20.20, a P/E/G ratio of 1.15 and a beta of 1.37.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The firm had revenue of $209.09 million for the quarter, compared to the consensus estimate of $239.07 million. CarGurus had a net margin of 16.60% and a return on equity of 47.50%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. CarGurus has set its Q1 2026 guidance at 0.520-0.580 EPS. On average, research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Needham & Company LLC lowered their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Oppenheimer lowered their price objective on shares of CarGurus from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. BTIG Research reduced their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. UBS Group set a $38.00 price target on shares of CarGurus in a research note on Tuesday, February 24th. Finally, DA Davidson dropped their price objective on CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.14.

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.