Prevatt Capital Ltd Has $84.27 Million Position in CarGurus, Inc. $CARG

Prevatt Capital Ltd increased its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 12.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,475,000 shares of the company’s stock after buying an additional 275,000 shares during the quarter. CarGurus comprises about 22.7% of Prevatt Capital Ltd’s portfolio, making the stock its biggest position. Prevatt Capital Ltd owned approximately 2.60% of CarGurus worth $84,274,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new position in shares of CarGurus in the 4th quarter worth $3,742,000. JPMorgan Chase & Co. increased its stake in CarGurus by 17.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company’s stock valued at $20,314,000 after purchasing an additional 82,511 shares in the last quarter. Congress Asset Management Co. increased its stake in CarGurus by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock valued at $75,095,000 after purchasing an additional 54,937 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in CarGurus during the fourth quarter worth $2,113,000. Finally, Aberdeen Group plc acquired a new position in CarGurus during the fourth quarter worth $14,643,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Weiss Ratings lowered shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. 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 restated a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. Freedom Capital raised shares of CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. lifted their price target on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, CarGurus has an average rating of “Moderate Buy” and an average target price of $37.77.

CarGurus Trading Up 3.1%

NASDAQ CARG opened at $36.24 on Friday. The business has a fifty day simple moving average of $31.41 and a 200 day simple moving average of $33.07. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $39.42. The firm has a market capitalization of $3.27 billion, a P/E ratio of 23.84, a PEG ratio of 1.28 and a beta of 1.18.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The firm had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.10 million. During the same period in the previous year, the firm earned $0.46 EPS. The business’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. As a group, sell-side analysts predict that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Insider Transactions at CarGurus

In other CarGurus news, General Counsel Javier Zamora sold 8,072 shares of CarGurus stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $29.53, for a total transaction of $238,366.16. Following the transaction, the general counsel owned 103,061 shares of the company’s stock, valued at $3,043,391.33. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Ladd Hanson sold 2,499 shares of CarGurus stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total transaction of $86,365.44. Following the transaction, the insider directly owned 92,894 shares in the company, valued at approximately $3,210,416.64. This represents a 2.62% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 17,635 shares of company stock worth $560,351 over the last three months. 16.99% of the stock is owned by insiders.

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.