Legal & General Group Plc Purchases 15,339 Shares of CarGurus, Inc. $CARG

Legal & General Group Plc raised its position in CarGurus, Inc. (NASDAQ:CARG) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 249,119 shares of the company’s stock after acquiring an additional 15,339 shares during the quarter. Legal & General Group Plc owned approximately 0.24% of CarGurus worth $8,338,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. MAI Capital Management raised its position in CarGurus by 661.0% during the 2nd quarter. MAI Capital Management now owns 1,172 shares of the company’s stock valued at $39,000 after purchasing an additional 1,018 shares during the last quarter. Hillsdale Investment Management Inc. lifted its stake in CarGurus by 32.3% in the second quarter. Hillsdale Investment Management Inc. now owns 185,250 shares of the company’s stock worth $6,200,000 after acquiring an additional 45,200 shares during the period. Swiss National Bank lifted its stake in CarGurus by 6.4% in the second quarter. Swiss National Bank now owns 172,300 shares of the company’s stock worth $5,767,000 after acquiring an additional 10,400 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in CarGurus in the second quarter valued at $379,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in CarGurus by 72.1% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 111,871 shares of the company’s stock valued at $3,744,000 after purchasing an additional 46,868 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $35.52 on Wednesday. The company has a 50 day simple moving average of $35.47 and a two-hundred day simple moving average of $34.04. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 1.66 and a beta of 1.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. The company had revenue of $238.70 million for the quarter, compared to the consensus estimate of $234.57 million. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.45 EPS. 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, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CARG has been the subject of several research analyst reports. Citigroup raised 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. DA Davidson set a $37.50 price objective on shares of CarGurus in a report on Monday, November 17th. Needham & Company LLC upped their target price on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Oppenheimer decreased their target price on CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Finally, Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. Four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $39.95.

Insider Activity

In other news, insider Ismail Elshareef sold 1,228 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total transaction of $42,955.44. Following the transaction, the insider directly owned 95,907 shares of the company’s stock, valued at $3,354,826.86. This represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the sale, the insider directly owned 54,807 shares in the company, valued at $2,021,282.16. This trade represents a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,226 shares of company stock worth $1,471,482 over the last 90 days. 17.20% of the stock is currently owned by insiders.

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.