Allspring Global Investments Holdings LLC Sells 61,183 Shares of CarGurus, Inc. $CARG

Allspring Global Investments Holdings LLC trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 40.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,941 shares of the company’s stock after selling 61,183 shares during the period. Allspring Global Investments Holdings LLC owned about 0.10% of CarGurus worth $3,424,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its position in CarGurus by 71.1% during the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock valued at $40,000 after buying an additional 443 shares during the period. Brown Brothers Harriman & Co. bought a new position in CarGurus during the 3rd quarter worth approximately $46,000. First Horizon Corp bought a new position in CarGurus during the 3rd quarter worth approximately $51,000. EverSource Wealth Advisors LLC grew its position in CarGurus by 491.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after acquiring an additional 1,362 shares during the last quarter. Finally, Exchange Traded Concepts LLC bought a new position in CarGurus during the 3rd quarter worth approximately $67,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CTO Matthew Todd Quinn sold 4,341 shares of the business’s stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total transaction of $143,426.64. Following the transaction, the chief technology officer owned 246,098 shares in the company, valued at $8,131,077.92. The trade was a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the transaction, the insider owned 98,191 shares in the company, valued at $3,496,581.51. This represents a 2.48% 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 a total of 14,497 shares of company stock valued at $484,038 over the last quarter. 17.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CARG shares. DA Davidson reduced their price target on CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Oppenheimer decreased their target price on shares of CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. BTIG Research decreased their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. UBS Group set a $38.00 target price on shares of CarGurus in a research note on Tuesday, February 24th. Finally, Royal Bank Of Canada decreased their target price on shares of CarGurus from $40.00 to $34.00 and set an “outperform” rating on the stock in a research note on Friday, February 20th. Five research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $38.14.

CarGurus Stock Performance

NASDAQ CARG opened at $35.24 on Wednesday. CarGurus, Inc. has a fifty-two week low of $24.83 and a fifty-two week high of $39.42. The stock has a 50 day simple moving average of $31.65 and a two-hundred day simple moving average of $34.58. The stock has a market cap of $3.35 billion, a P/E ratio of 22.74, a price-to-earnings-growth ratio of 1.24 and a beta of 1.32.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, February 19th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. CarGurus had a return on equity of 47.50% and a net margin of 16.60%.The business had revenue of $209.09 million during the quarter, compared to analysts’ expectations of $239.07 million. During the same quarter last year, the business posted $0.55 EPS. The business’s revenue was up 14.7% on a year-over-year basis. CarGurus has set its Q1 2026 guidance at 0.520-0.580 EPS. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current 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.