CarGurus, Inc. $CARG Shares Bought by JPMorgan Chase & Co.

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

Several other institutional investors have also modified their holdings of the stock. MAI Capital Management raised its position in shares of CarGurus by 661.0% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after purchasing an additional 1,018 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in CarGurus by 71.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock valued at $40,000 after buying an additional 443 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in CarGurus in the 3rd quarter worth about $46,000. First Horizon Corp acquired a new stake in CarGurus in the 3rd quarter worth about $51,000. Finally, EverSource Wealth Advisors LLC increased its stake in CarGurus by 491.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after buying an additional 1,362 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insiders Place Their Bets

In other news, Director Stephen Kaufer purchased 30,766 shares of the stock in a transaction dated Tuesday, March 3rd. The shares were purchased at an average price of $32.50 per share, with a total value of $999,895.00. Following the transaction, the director owned 323,939 shares in the company, valued at $10,528,017.50. The trade was a 10.49% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jennifer Ladd Hanson sold 2,358 shares of the company’s stock in a transaction dated Wednesday, December 31st. The shares were sold at an average price of $38.10, for a total transaction of $89,839.80. Following the completion of the sale, the insider directly owned 50,466 shares of the company’s stock, valued at $1,922,754.60. This represents a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

CARG has been the subject of a number of research analyst reports. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a report on Monday, December 29th. UBS Group set a $38.00 price target on CarGurus in a research report on Tuesday, February 24th. Jefferies Financial Group increased their price objective on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. Needham & Company LLC decreased their price objective on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Finally, DA Davidson lowered their target price on shares of CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research note on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $38.14.

CarGurus Price Performance

CARG opened at $34.83 on Wednesday. The company’s 50 day simple moving average is $31.56 and its two-hundred day simple moving average is $34.70. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $39.42. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 1.29 and a beta of 1.37.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results 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. CarGurus had a return on equity of 47.50% and a net margin of 16.60%.The business had revenue of $209.09 million during the quarter, compared to analyst estimates of $239.07 million. During the same period in the prior year, the business earned $0.55 earnings per share. The business’s revenue was up 14.7% compared to the same quarter last year. CarGurus has set its Q1 2026 guidance at 0.520-0.580 EPS. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

CarGurus Company 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.