CarGurus, Inc. $CARG Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in CarGurus, Inc. (NASDAQ:CARG) by 45.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,255,283 shares of the company’s stock after selling 2,690,687 shares during the period. Wellington Management Group LLP’s holdings in CarGurus were worth $110,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in CarGurus during the second quarter worth approximately $43,000. Brown Brothers Harriman & Co. acquired a new position in shares of CarGurus during the 3rd quarter valued at $46,000. EverSource Wealth Advisors LLC raised its stake in shares of CarGurus by 491.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after buying an additional 1,362 shares in the last quarter. Clearstead Advisors LLC raised its stake in shares of CarGurus by 321.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after buying an additional 1,622 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of CarGurus by 356.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock valued at $83,000 after buying an additional 1,697 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

CarGurus stock opened at $34.77 on Wednesday. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $41.22. The firm has a market capitalization of $3.10 billion, a price-to-earnings ratio of 18.90, a P/E/G ratio of 1.27 and a beta of 1.17. The company has a 50 day moving average price of $35.55 and a 200 day moving average price of $33.26.

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

Insider Activity

In other CarGurus news, General Counsel Javier Zamora sold 6,205 shares of CarGurus stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $37.08, for a total transaction of $230,081.40. Following the transaction, the general counsel owned 80,260 shares of the company’s stock, valued at $2,976,040.80. The trade was a 7.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Dafna Sarnoff sold 17,151 shares of the company’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.00, for a total value of $634,587.00. Following the completion of the transaction, the chief marketing officer owned 109,668 shares in the company, valued at $4,057,716. This represents a 13.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,943 shares of company stock valued at $2,238,736 in the last ninety days. Corporate insiders own 18.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CARG. JPMorgan Chase & Co. raised their target price on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BTIG Research upped their price target on shares of CarGurus from $40.00 to $41.00 and gave the company a “buy” rating in a report on Friday, August 7th. Piper Sandler restated a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. Citigroup lifted their price objective on shares of CarGurus from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Finally, UBS Group increased their target price on shares of CarGurus from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

CarGurus 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.