CarGurus (NASDAQ:CARG) Director Sells 10,000 Shares of Stock

CarGurus, Inc. (NASDAQ:CARG) Director Greg Schwartz sold 10,000 shares of the business’s 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 directly owned 8,716 shares of the company’s stock, valued at $314,386.12. This represents a 53.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

CarGurus Price Performance

NASDAQ CARG traded down $0.57 during trading on Friday, hitting $37.37. 725,204 shares of the company’s stock traded hands, compared to its average volume of 1,279,771. The firm has a market cap of $3.37 billion, a P/E ratio of 20.31, a PEG ratio of 1.36 and a beta of 1.17. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $41.22. The stock has a fifty day moving average of $33.56 and a two-hundred day moving average of $32.73.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a return on equity of 62.88% and a net margin of 18.06%.The business had revenue of $250.97 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same period in the previous year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, analysts expect that CarGurus, Inc. will post 2.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler reissued a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. Citigroup boosted their price target on CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a report on Friday. Freedom Capital raised CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. Barclays increased their price objective on CarGurus from $40.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Royal Bank Of Canada lifted their price objective on CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and an average price target of $40.75.

Institutional Investors Weigh In On CarGurus

A number of large investors have recently modified their holdings of CARG. Bank of New York Mellon Corp purchased a new position in shares of CarGurus during the second quarter valued at about $15,631,000. Hennion & Walsh Asset Management Inc. boosted its position in CarGurus by 1.9% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,318 shares of the company’s stock valued at $829,000 after acquiring an additional 459 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of CarGurus by 31.5% during the 1st quarter. Pacer Advisors Inc. now owns 342,949 shares of the company’s stock worth $11,677,000 after acquiring an additional 82,222 shares during the period. Bank of America Corp DE raised its position in shares of CarGurus by 26.6% in the 1st quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock worth $19,965,000 after acquiring an additional 123,364 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of CarGurus by 8.1% in the 1st quarter. Janus Henderson Group PLC now owns 229,225 shares of the company’s stock worth $7,805,000 after acquiring an additional 17,139 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

CarGurus Company 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.