Gibbs Wealth Management Invests $663,000 in CarGurus, Inc. $CARG

Gibbs Wealth Management bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 17,806 shares of the company’s stock, valued at approximately $663,000.

A number of other large investors also recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in CarGurus by 22.6% during the 1st quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock valued at $2,186,000 after buying an additional 13,834 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of CarGurus by 25.4% during the first quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock worth $756,000 after acquiring an additional 5,259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in CarGurus by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock valued at $1,889,000 after acquiring an additional 1,890 shares in the last quarter. Jane Street Group LLC increased its holdings in CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after acquiring an additional 65,420 shares during the last quarter. Finally, Fifth Third Bancorp increased its holdings in CarGurus by 121.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after acquiring an additional 779 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research downgraded shares of CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Citigroup increased their price target on CarGurus from $37.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 28th. DA Davidson set a $37.50 price target on CarGurus in a report on Monday, November 17th. UBS Group upped their price objective on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a report 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.86.

Insider Activity

In other news, CEO Jason Trevisan sold 16,548 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total transaction of $645,702.96. Following the transaction, the chief executive officer owned 630,483 shares of the company’s stock, valued at approximately $24,601,446.66. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Samuel Zales sold 10,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total value of $349,800.00. Following the transaction, the chief operating officer owned 410,259 shares of the company’s stock, valued at approximately $14,350,859.82. The trade was a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 58,586 shares of company stock worth $2,198,264 in the last ninety days. 16.99% of the stock is currently owned by company insiders.

CarGurus Stock Performance

Shares of CarGurus stock opened at $34.00 on Friday. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 23.13, a price-to-earnings-growth ratio of 1.39 and a beta of 1.36. The stock has a 50 day moving average price of $36.66 and a 200-day moving average price of $35.32. CarGurus, Inc. has a one year low of $24.65 and a one year high of $41.33.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $238.70 million during 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%.CarGurus’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $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. Sell-side analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

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.