Allspring Global Investments Holdings LLC Sells 18,533 Shares of CarGurus, Inc. $CARG

Allspring Global Investments Holdings LLC trimmed its stake in CarGurus, Inc. (NASDAQ:CARG) by 10.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,702 shares of the company’s stock after selling 18,533 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.15% of CarGurus worth $5,321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of CARG. Principal Financial Group Inc. lifted its stake in CarGurus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company’s stock valued at $14,055,000 after purchasing an additional 10,787 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of CarGurus by 50.0% during the 1st quarter. Intech Investment Management LLC now owns 67,246 shares of the company’s stock valued at $1,959,000 after buying an additional 22,425 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of CarGurus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company’s stock valued at $284,909,000 after buying an additional 93,722 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of CarGurus by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 4,196 shares of the company’s stock worth $122,000 after acquiring an additional 1,097 shares during the period. Finally, Bosman Wealth Management LLC purchased a new stake in CarGurus in the 1st quarter worth about $2,638,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In other news, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 16th. The shares were sold at an average price of $34.92, for a total transaction of $349,200.00. Following the completion of the transaction, the chief operating officer directly owned 420,259 shares of the company’s stock, valued at $14,675,444.28. The trade was a 2.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the transaction, the insider owned 54,807 shares in the company, valued at approximately $2,021,282.16. This trade represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,998 shares of company stock valued at $1,078,726 over the last quarter. Company insiders own 17.20% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the topic of several recent research reports. Citizens Jmp downgraded shares of CarGurus from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 2nd. Gordon Haskett initiated coverage on shares of CarGurus in a research report on Monday, July 14th. They set a “hold” rating and a $35.00 price objective on the stock. Wall Street Zen cut shares of CarGurus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CarGurus in a research note on Wednesday, October 8th. Finally, Oppenheimer cut their target price on CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.54.

CarGurus Stock Up 2.4%

CARG stock opened at $35.76 on Tuesday. The business has a 50 day moving average of $35.24 and a 200 day moving average of $32.53. The firm has a market cap of $3.55 billion, a PE ratio of 29.07, a price-to-earnings-growth ratio of 1.66 and a beta of 1.52. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33.

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

CarGurus 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.