Allianz Asset Management GmbH Increases Stock Holdings in CarGurus, Inc. $CARG

Allianz Asset Management GmbH grew its position in CarGurus, Inc. (NASDAQ:CARG) by 1,807.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,365 shares of the company’s stock after buying an additional 130,165 shares during the quarter. Allianz Asset Management GmbH’s holdings in CarGurus were worth $4,598,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Private Wealth Asset Management LLC purchased a new position in shares of CarGurus in the second quarter valued at $29,000. Fifth Third Bancorp increased its position in CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after purchasing an additional 779 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in CarGurus during the 1st quarter worth about $46,000. Signaturefd LLC increased its position in CarGurus by 83.9% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock worth $51,000 after purchasing an additional 799 shares in the last quarter. Finally, Blue Trust Inc. increased its position in CarGurus by 49.8% during the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock worth $73,000 after purchasing an additional 829 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CARG. Zacks Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Wall Street Zen cut CarGurus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. BTIG Research reiterated a “buy” rating and set a $39.00 price objective on shares of CarGurus in a research report on Friday, September 5th. Gordon Haskett began coverage on CarGurus in a research report on Monday, July 14th. They set a “hold” rating and a $35.00 price objective for the company. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of CarGurus in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, CarGurus currently has an average rating of “Hold” and an average price target of $39.68.

Insider Activity

In other news, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,726.24. Following the transaction, the insider directly owned 54,807 shares of the company’s stock, valued at $2,021,282.16. The trade was a 15.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $36.08, for a total value of $360,800.00. Following the completion of the transaction, the chief operating officer directly owned 441,821 shares in the company, valued at $15,940,901.68. This represents a 2.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,998 shares of company stock worth $1,078,726 over the last ninety days. Corporate insiders own 16.99% of the company’s stock.

CarGurus Stock Up 0.2%

NASDAQ:CARG opened at $36.21 on Friday. The company has a market cap of $3.59 billion, a P/E ratio of 29.44, a P/E/G ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The firm’s 50 day moving average is $35.51 and its two-hundred day moving average is $32.65.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. CarGurus’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. Research analysts forecast 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.