Geode Capital Management LLC Boosts Stock Position in CarGurus, Inc. $CARG

Geode Capital Management LLC raised its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,101,437 shares of the company’s stock after acquiring an additional 24,910 shares during the period. Geode Capital Management LLC owned approximately 2.20% of CarGurus worth $80,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. purchased a new stake in CarGurus during the 3rd quarter valued at approximately $46,000. Torren Management LLC purchased a new stake in CarGurus during the 4th quarter valued at approximately $49,000. EverSource Wealth Advisors LLC increased its position in CarGurus by 491.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after purchasing an additional 1,362 shares during the period. Clearstead Advisors LLC increased its position in CarGurus by 321.2% during the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after purchasing an additional 1,622 shares during the period. Finally, Quantbot Technologies LP acquired a new position in CarGurus during the 2nd quarter worth approximately $87,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CARG shares. Weiss Ratings cut CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Oppenheimer dropped their target price on CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. JPMorgan Chase & Co. boosted their target price on CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. DA Davidson dropped their target price on CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, CarGurus currently has an average rating of “Hold” and a consensus price target of $37.79.

CarGurus Price Performance

CARG opened at $27.42 on Monday. The stock has a market cap of $2.47 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.00 and a beta of 1.20. The stock’s 50 day simple moving average is $33.15 and its 200 day simple moving average is $33.77. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $39.42.

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

Insider Transactions at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,341 shares of the stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $33.04, for a total transaction of $143,426.64. Following the sale, the chief technology officer owned 246,098 shares in the company, valued at approximately $8,131,077.92. This represents a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total value of $88,989.39. Following the sale, the insider owned 98,191 shares in the company, valued at approximately $3,496,581.51. This trade represents a 2.48% 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. In the last 90 days, insiders have sold 20,924 shares of company stock worth $669,419. 16.99% of the stock is currently 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.