Congress Asset Management Co. Takes Position in CarGurus, Inc. $CARG

Congress Asset Management Co. bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,903,207 shares of the company’s stock, valued at approximately $70,856,000. Congress Asset Management Co. owned 1.92% of CarGurus at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Acadian Asset Management LLC lifted its holdings in shares of CarGurus by 185.2% during the 1st quarter. Acadian Asset Management LLC now owns 835,244 shares of the company’s stock worth $24,314,000 after acquiring an additional 542,382 shares during the period. Mount Capital Ltd acquired a new position in CarGurus during the first quarter worth approximately $15,270,000. Select Equity Group L.P. raised its stake in CarGurus by 106.6% during the first quarter. Select Equity Group L.P. now owns 913,975 shares of the company’s stock worth $26,624,000 after purchasing an additional 471,691 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of CarGurus in the 2nd quarter valued at $14,599,000. Finally, Squarepoint Ops LLC grew its stake in shares of CarGurus by 1,457.7% during the 2nd quarter. Squarepoint Ops LLC now owns 403,447 shares of the company’s stock valued at $13,503,000 after buying an additional 377,547 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other CarGurus news, CEO Jason Trevisan sold 20,000 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were 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 $24,252,871. This represents a 2.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the sale, the insider owned 54,807 shares of the company’s stock, valued at $2,021,282.16. This represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 51,226 shares of company stock valued at $1,850,682. 16.99% of the stock is currently owned by company insiders.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $38.62 on Friday. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 1.79 and a beta of 1.42. The business has a 50-day moving average of $35.68 and a 200-day moving average of $34.54.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $238.70 million for the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The company’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $0.45 EPS. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. Research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CARG has been the topic of several research reports. BTIG Research reaffirmed a “buy” rating and issued a $39.00 target price on shares of CarGurus in a research report on Friday, September 5th. JPMorgan Chase & Co. raised their price objective on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 15th. UBS Group boosted their target price on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Zacks Research downgraded shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Five 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, CarGurus presently has an average rating of “Hold” and an average target price of $40.41.

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.