CarGurus, Inc. $CARG Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in CarGurus, Inc. (NASDAQ:CARG) by 334.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 24,024 shares of the company’s stock after purchasing an additional 18,490 shares during the period. SG Americas Securities LLC’s holdings in CarGurus were worth $894,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB boosted its position in CarGurus by 6.7% during the second quarter. Nordea Investment Management AB now owns 336,930 shares of the company’s stock worth $11,247,000 after acquiring an additional 21,167 shares during the last quarter. Congress Asset Management Co. purchased a new position in CarGurus in the 3rd quarter worth approximately $70,856,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of CarGurus during the 2nd quarter worth approximately $379,000. Capital Fund Management S.A. grew its position in shares of CarGurus by 252.6% in the second quarter. Capital Fund Management S.A. now owns 186,106 shares of the company’s stock valued at $6,229,000 after purchasing an additional 133,331 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of CarGurus by 82.7% in the third quarter. Voya Investment Management LLC now owns 141,559 shares of the company’s stock valued at $5,270,000 after purchasing an additional 64,094 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Transactions at CarGurus

In other news, insider Ismail Elshareef sold 1,228 shares of CarGurus stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $42,955.44. Following the completion of the sale, the insider directly owned 95,907 shares of the company’s stock, valued at approximately $3,354,826.86. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jason Trevisan sold 20,000 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $37.00, for a total value of $740,000.00. Following the transaction, the chief executive officer directly owned 655,483 shares in the company, valued at approximately $24,252,871. The trade was a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 58,586 shares of company stock valued at $2,198,264. Corporate insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

CARG has been the topic of a number of analyst reports. BTIG Research lifted their price objective on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Tuesday, December 30th. Citigroup raised their target price on CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. UBS Group boosted their price target on shares of CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. DA Davidson set a $37.50 price objective on shares of CarGurus in a research report on Monday, November 17th. Finally, JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $40.86.

CarGurus Trading Down 1.6%

Shares of NASDAQ:CARG opened at $34.17 on Tuesday. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 23.24, a PEG ratio of 1.39 and a beta of 1.36. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The business has a 50-day moving average price of $36.79 and a 200 day moving average price of $35.33.

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

About CarGurus

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.