Gagnon Securities LLC Trims Stock Position in CarGurus, Inc. $CARG

Gagnon Securities LLC trimmed its holdings in CarGurus, Inc. (NASDAQ:CARG) by 16.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 272,308 shares of the company’s stock after selling 52,613 shares during the period. CarGurus accounts for approximately 2.0% of Gagnon Securities LLC’s holdings, making the stock its 18th largest holding. Gagnon Securities LLC’s holdings in CarGurus were worth $10,138,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CARG. Nisa Investment Advisors LLC lifted its holdings in shares of CarGurus by 20.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,864 shares of the company’s stock worth $69,000 after acquiring an additional 321 shares during the period. QRG Capital Management Inc. increased its position in CarGurus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 8,116 shares of the company’s stock worth $272,000 after purchasing an additional 332 shares during the last quarter. GAMMA Investing LLC increased its position in CarGurus by 8.7% during the third quarter. GAMMA Investing LLC now owns 4,535 shares of the company’s stock worth $169,000 after purchasing an additional 363 shares during the last quarter. Farther Finance Advisors LLC raised its stake in CarGurus by 71.1% during the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock worth $40,000 after purchasing an additional 443 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of CarGurus by 30.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock valued at $68,000 after purchasing an additional 475 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of several research reports. DA Davidson set a $37.50 target price on CarGurus in a research report on Monday, November 17th. Weiss Ratings restated a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 29th. Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. UBS Group boosted their target price on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, October 6th. Finally, Citigroup increased their target price on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.86.

Insiders Place Their Bets

In other CarGurus news, CEO Jason Trevisan sold 16,548 shares of the company’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $39.02, for a total value of $645,702.96. Following the transaction, the chief executive officer directly owned 630,483 shares of the company’s stock, valued at $24,601,446.66. This represents a 2.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jennifer Ladd Hanson sold 2,358 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $38.10, for a total value of $89,839.80. Following the transaction, the insider owned 50,466 shares of the company’s stock, valued at approximately $1,922,754.60. This trade represents a 4.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 58,586 shares of company stock valued at $2,198,264 over the last 90 days. 16.99% of the stock is owned by company insiders.

CarGurus Price Performance

Shares of CARG stock opened at $33.01 on Friday. The company’s fifty day moving average price is $36.60 and its two-hundred day moving average price is $35.29. The firm has a market capitalization of $3.15 billion, a P/E ratio of 22.46, a P/E/G ratio of 1.36 and a beta of 1.36. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The business had revenue of $238.70 million for the quarter, compared to analyst estimates of $234.57 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. On average, sell-side analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

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.