Mirae Asset Global Investments Co. Ltd. Purchases New Holdings in CarGurus, Inc. $CARG

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 22,685 shares of the company’s stock, valued at approximately $707,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp bought a new stake in shares of CarGurus in the 2nd quarter valued at $15,631,000. Pale Fire Capital SE bought a new position in CarGurus during the second quarter worth $13,112,000. Lazard Asset Management LLC boosted its stake in CarGurus by 180.8% during the first quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock worth $15,182,000 after acquiring an additional 287,067 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in CarGurus by 159.5% in the third quarter. Assenagon Asset Management S.A. now owns 351,886 shares of the company’s stock worth $10,965,000 after purchasing an additional 216,304 shares during the period. Finally, Bessemer Group Inc. grew its holdings in CarGurus by 18.2% in the first quarter. Bessemer Group Inc. now owns 1,085,061 shares of the company’s stock worth $36,945,000 after purchasing an additional 166,954 shares during the period. 86.90% of the stock is currently owned by institutional investors.

CarGurus Price Performance

Shares of CARG opened at $33.74 on Monday. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $41.22. The business’s fifty day moving average is $32.17 and its 200 day moving average is $32.85. The stock has a market cap of $3.01 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.20 and a beta of 1.22.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.04. The business had revenue of $258.37 million during the quarter, compared to the consensus estimate of $256.46 million. CarGurus had a net margin of 18.51% and a return on equity of 68.43%. CarGurus’s revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, analysts expect that CarGurus, Inc. will post 2.17 EPS for the current year.

Key Stories Impacting CarGurus

Here are the key news stories impacting CarGurus this week:

• Positive Sentiment: Third-quarter revenue increased 12% year over year to $258 million, slightly topping estimates, while adjusted EPS of $0.70 beat the $0.66 consensus. Adjusted EBITDA was $89.7 million, near the high end of the company’s guidance range. CarGurus Announces Third Quarter 2026 Results
• Positive Sentiment: The board authorized a $250 million share-repurchase program, which could support per-share results and signal confidence in the business. CarGurus Announces Third Quarter 2026 Results
• Positive Sentiment: Paying U.S. dealers using CarGurus products beyond listings grew 16% year over year, suggesting continued traction in additional dealer services. CarGurus: 3 Key Takeaways for Long-Term Investors
• Neutral Sentiment: Royal Bank of Canada lowered its price target from $42 to $41 but kept its “outperform” rating, retaining a favorable view while trimming its valuation outlook. Royal Bank of Canada recommendations
• Negative Sentiment: Despite the quarterly beats, CarGurus’ revenue guidance for the next quarter came in slightly below expectations. That softer outlook is the clearest potential explanation for the stock’s weakness. Q3 sales beat estimates but quarterly revenue guidance slightly misses expectations

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CARG shares. B. Riley Financial reiterated a “buy” rating on shares of CarGurus in a report on Friday, August 7th. Citigroup raised their target price on CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. UBS Group decreased their target price on CarGurus from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. Weiss Ratings lowered CarGurus from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Finally, Royal Bank Of Canada dropped their price target on CarGurus from $42.00 to $41.00 and set an “outperform” rating on the stock in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and an average target price of $39.85.

Insider Transactions at CarGurus

In other news, insider Ismail Elshareef sold 2,673 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.62, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 stock was sold at an average price of $37.00, for a total transaction of $634,587.00. Following the completion of the sale, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 82,846 shares of company stock valued at $2,803,095. Corporate insiders own 18.19% of the company’s stock.

CarGurus Profile

CarGurus, Inc operates an online automotive marketplace that helps consumers research and compare vehicles and connect with dealerships. Its website and mobile apps feature new and used vehicle listings, search tools, vehicle information and pricing insights designed to help shoppers evaluate available cars.

The company also provides dealerships with products and services to market inventory and engage with potential buyers through its platform. CarGurus was founded in 2006 by Langley Steinert, who previously co-founded TripAdvisor, and is headquartered in Cambridge, Massachusetts.

CarGurus serves customers and dealerships in the United States, Canada and the United Kingdom.