Assenagon Asset Management S.A. Buys 102,187 Shares of CarGurus, Inc. $CARG

Assenagon Asset Management S.A. grew its stake in CarGurus, Inc. (NASDAQ:CARG) by 420.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,486 shares of the company’s stock after acquiring an additional 102,187 shares during the period. Assenagon Asset Management S.A. owned 0.12% of CarGurus worth $4,233,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CARG. Cetera Investment Advisers bought a new position in shares of CarGurus in the 4th quarter valued at about $321,000. Voloridge Investment Management LLC bought a new position in shares of CarGurus in the 4th quarter valued at about $480,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of CarGurus by 30.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company’s stock valued at $7,264,000 after acquiring an additional 46,298 shares in the last quarter. Mackenzie Financial Corp grew its holdings in CarGurus by 243.3% during the fourth quarter. Mackenzie Financial Corp now owns 73,383 shares of the company’s stock worth $2,681,000 after purchasing an additional 52,006 shares during the period. Finally, Versant Capital Management Inc grew its holdings in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company’s stock worth $76,000 after purchasing an additional 2,267 shares during the period. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CARG shares. Citigroup reduced their price target on CarGurus from $40.00 to $37.00 and set a “neutral” rating for the company in a report on Thursday, July 3rd. UBS Group lifted their price target on CarGurus from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Friday, August 8th. Needham & Company LLC lifted their price target on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. JMP Securities reiterated a “market perform” rating and set a $38.00 price target on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut CarGurus from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $38.46.

CarGurus Stock Up 1.4%

Shares of NASDAQ:CARG opened at $37.85 on Thursday. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The stock has a market cap of $3.76 billion, a PE ratio of 30.77, a P/E/G ratio of 1.77 and a beta of 1.54. The business has a 50 day moving average of $33.97 and a 200-day moving average of $31.75.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The company had revenue of $234.03 million during the quarter, compared to analysts’ expectations of $232.29 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The business’s revenue was up 7.0% on a year-over-year basis. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. Equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $125,378.01. Following the completion of the sale, the chief technology officer directly owned 216,877 shares in the company, valued at approximately $7,176,459.93. The trade was a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of CarGurus stock in a transaction that occurred on Thursday, July 17th. The shares were sold at an average price of $33.84, for a total transaction of $58,644.72. Following the completion of the sale, the chief executive officer owned 117,045 shares of the company’s stock, valued at approximately $3,960,802.80. The trade was a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,538 shares of company stock valued at $1,427,877 in the last quarter. Corporate insiders own 16.99% of the company’s stock.

CarGurus Company 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.