Legal & General Group Plc Raises Stock Position in CarGurus, Inc. $CARG

Legal & General Group Plc boosted its stake in CarGurus, Inc. (NASDAQ:CARG) by 6.6% in the second quarter, HoldingsChannel reports. The firm owned 249,119 shares of the company’s stock after acquiring an additional 15,339 shares during the period. Legal & General Group Plc’s holdings in CarGurus were worth $8,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of CarGurus in the 2nd quarter worth $27,000. Private Wealth Asset Management LLC bought a new position in CarGurus in the second quarter valued at about $29,000. MAI Capital Management lifted its holdings in CarGurus by 661.0% in the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock valued at $39,000 after acquiring an additional 1,018 shares during the period. BI Asset Management Fondsmaeglerselskab A S purchased a new position in CarGurus in the first quarter worth about $46,000. Finally, Fifth Third Bancorp grew its stake in shares of CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after purchasing an additional 779 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Trading Down 0.4%

NASDAQ:CARG opened at $35.52 on Wednesday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 24.16, a P/E/G ratio of 1.66 and a beta of 1.42. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The stock has a 50-day moving average price of $35.47 and a 200 day moving average price of $34.04.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, November 6th. The company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. The firm had revenue of $238.70 million for the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm 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. On average, research analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CARG. Wall Street Zen upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Needham & Company LLC upped their target price on shares of CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 8th. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. BTIG Research reissued a “buy” rating and set a $39.00 price objective on shares of CarGurus in a research report on Friday, September 5th. Finally, DA Davidson set a $37.50 price objective on CarGurus in a research note on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $39.95.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 10,000 shares of the firm’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 completion of the transaction, the chief operating officer directly owned 410,259 shares of the company’s stock, valued at approximately $14,350,859.82. This trade represents a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ismail Elshareef sold 1,228 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $42,955.44. Following the sale, the insider directly owned 95,907 shares in the company, valued at approximately $3,354,826.86. The trade was a 1.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 41,226 shares of company stock valued at $1,471,482 in the last quarter. 17.20% of the stock is currently owned by insiders.

CarGurus Company 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.