Intech Investment Management LLC Reduces Stock Position in CarGurus, Inc. $CARG

Intech Investment Management LLC trimmed its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 25.3% in the second quarter, Holdings Channel.com reports. The fund owned 50,200 shares of the company’s stock after selling 17,046 shares during the period. Intech Investment Management LLC’s holdings in CarGurus were worth $1,680,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in CarGurus in the 2nd quarter valued at approximately $27,000. Private Wealth Asset Management LLC purchased a new stake in CarGurus during the second quarter worth $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in CarGurus in the first quarter valued at $46,000. Fifth Third Bancorp grew its holdings in CarGurus by 121.7% in the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after purchasing an additional 779 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of CarGurus by 30.7% in the second quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock valued at $68,000 after buying an additional 475 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Buying and Selling at CarGurus

In related news, insider Jennifer Ladd Hanson sold 9,998 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total transaction of $368,726.24. Following the transaction, the insider directly owned 54,807 shares in the company, valued at approximately $2,021,282.16. This represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Ismail Elshareef sold 1,228 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $42,955.44. Following the completion of the sale, the insider directly owned 95,907 shares in the company, valued at approximately $3,354,826.86. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,226 shares of company stock worth $1,471,482. Insiders own 16.99% of the company’s stock.

CarGurus Trading Up 2.0%

NASDAQ:CARG opened at $34.60 on Friday. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.61 and a beta of 1.50. The company’s 50-day moving average is $35.67 and its two-hundred day moving average is $33.82.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CARG shares. Zacks Research lowered shares of CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 16th. Needham & Company LLC lifted their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Oppenheimer reduced their price target on shares of CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 14th. Finally, BTIG Research restated a “buy” rating and set a $39.00 price objective on shares of CarGurus in a research report on Friday, September 5th. Four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $39.95.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.