Lazard Asset Management LLC Purchases 287,067 Shares of CarGurus, Inc. $CARG

Lazard Asset Management LLC lifted its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 180.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 445,868 shares of the company’s stock after purchasing an additional 287,067 shares during the quarter. Lazard Asset Management LLC owned 0.49% of CarGurus worth $15,182,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada increased its stake 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 purchasing an additional 13,834 shares in the last quarter. AQR Capital Management LLC raised its holdings in 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 buying an additional 5,259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarGurus by 3.0% in 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 buying an additional 1,890 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of CarGurus by 113.0% in the first quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after buying an additional 65,420 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of CarGurus during the second quarter valued at about $87,000. 86.90% of the stock is currently owned by institutional investors.

CarGurus Price Performance

CARG opened at $37.07 on Thursday. CarGurus, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.42. The firm has a market capitalization of $3.34 billion, a P/E ratio of 24.39, a PEG ratio of 1.33 and a beta of 1.18. The company’s 50-day moving average is $31.71 and its 200 day moving average is $32.60.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The business had revenue of $243.56 million during the quarter, compared to the consensus estimate of $243.10 million. During the same period in the prior year, the firm posted $0.46 EPS. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CARG shares. Piper Sandler restated a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. UBS Group set a $35.00 price target on CarGurus in a research note on Thursday, May 28th. Citigroup initiated coverage on CarGurus in a report on Friday, June 12th. They set a “buy” rating for the company. Royal Bank Of Canada increased their price objective on CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, May 11th. Finally, Weiss Ratings lowered CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $38.55.

Insider Activity at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total value of $86,365.44. Following the transaction, the insider owned 92,894 shares of the company’s stock, valued at approximately $3,210,416.64. The trade was a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,533 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $36.06, for a total value of $127,399.98. Following the completion of the transaction, the general counsel owned 88,345 shares of the company’s stock, valued at $3,185,720.70. This trade represents a 3.85% 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. Over the last three months, insiders sold 25,559 shares of company stock valued at $841,568. 18.19% of the stock is owned by insiders.

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.