Congress Asset Management Co. Increases Position in CarGurus, Inc. $CARG

Congress Asset Management Co. boosted its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 7.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,125,686 shares of the company’s stock after purchasing an additional 149,338 shares during the quarter. Congress Asset Management Co.’s holdings in CarGurus were worth $66,236,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of CarGurus in the 2nd quarter worth $15,631,000. Pale Fire Capital SE bought a new stake in shares of CarGurus in the second quarter valued at about $13,112,000. Lazard Asset Management LLC raised its holdings in shares of CarGurus by 180.8% in the first quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock valued at $15,182,000 after acquiring an additional 287,067 shares in the last quarter. Prevatt Capital Ltd lifted its stake in CarGurus by 12.5% in the first quarter. Prevatt Capital Ltd now owns 2,475,000 shares of the company’s stock worth $84,274,000 after acquiring an additional 275,000 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in CarGurus by 5,046.6% in the fourth quarter. Pacer Advisors Inc. now owns 260,727 shares of the company’s stock worth $9,999,000 after acquiring an additional 255,661 shares during the period. 86.90% of the stock is owned by institutional investors.

Insider Activity at CarGurus

In other news, Director Greg M. Schwartz sold 10,000 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the completion of the sale, the director owned 8,716 shares in the company, valued at approximately $314,386.12. This represents a 53.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ismail Elshareef sold 2,673 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.62, for a total value of $79,174.26. Following the completion of the sale, the insider directly owned 127,933 shares of the company’s stock, valued at $3,789,375.46. The trade was a 2.05% 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 68,187 shares of company stock valued at $2,388,447 over the last three months. Company insiders own 18.19% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BTIG Research raised their target price on shares of CarGurus from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Needham & Company LLC upped their price target on shares of CarGurus from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. B. Riley Financial reiterated a “buy” rating on shares of CarGurus in a research note on Friday, August 7th. Piper Sandler reiterated a “sector weight” rating on shares of CarGurus in a research note on Friday, June 12th. Finally, Freedom Capital raised shares of CarGurus to a “strong-buy” rating in a report on Friday, June 12th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.45.

CarGurus Price Performance

CarGurus stock traded down $0.62 during trading hours on Tuesday, reaching $28.73. The stock had a trading volume of 2,550,800 shares, compared to its average volume of 1,254,395. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.07 and a beta of 1.22. The business’s 50 day moving average price is $34.69 and its 200-day moving average price is $33.58. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $41.22.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The business had revenue of $250.97 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue was up 7.2% compared to the same quarter last year. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, sell-side analysts forecast that CarGurus, Inc. will post 2.17 EPS for the current fiscal year.

CarGurus Profile

CarGurus, Inc is a digital automotive marketplace that connects consumers with dealerships and private sellers offering new and used vehicles. Its platform enables shoppers to search vehicle listings, compare prices and features, review dealership information, and evaluate vehicle deals using data-driven tools. CarGurus generates revenue primarily by providing automotive dealers with listing, advertising, and other digital marketing services.

The company also offers products designed to help dealers attract shoppers, manage vehicle listings, and support the online and in-person vehicle-buying process.