Prevatt Capital Ltd Has $84.27 Million Stake in CarGurus, Inc. $CARG

Prevatt Capital Ltd grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,475,000 shares of the company’s stock after purchasing an additional 275,000 shares during the quarter. CarGurus makes up 22.7% of Prevatt Capital Ltd’s investment portfolio, making the stock its largest holding. Prevatt Capital Ltd’s holdings in CarGurus were worth $84,274,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of CarGurus by 17.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company’s stock worth $20,314,000 after buying an additional 82,511 shares during the last quarter. Congress Asset Management Co. increased its holdings in CarGurus by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock worth $75,095,000 after buying an additional 54,937 shares during the last quarter. Convergence Investment Partners LLC purchased a new stake in CarGurus during the fourth quarter worth about $3,742,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in CarGurus in the fourth quarter worth about $2,113,000. Finally, Aberdeen Group plc bought a new stake in CarGurus in the fourth quarter worth about $14,643,000. 86.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CARG. Barclays initiated coverage on shares of CarGurus in a research note on Thursday, May 28th. They issued an “overweight” rating and a $35.00 target price on the stock. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Weiss Ratings downgraded CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Royal Bank Of Canada upped their price objective on CarGurus from $34.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. Finally, Citigroup began coverage on CarGurus in a report on Friday, June 12th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.77.

CarGurus Stock Performance

Shares of CarGurus stock opened at $36.24 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.28 and a beta of 1.18. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $39.42. The stock’s 50-day simple moving average is $31.41 and its 200 day simple moving average is $33.07.

CarGurus (NASDAQ:CARG) last issued its 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 firm had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the business earned $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Equities research analysts forecast that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total transaction of $86,365.44. Following the sale, the insider owned 92,894 shares of the company’s stock, valued at $3,210,416.64. The trade was a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,532 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $34.08, for a total value of $120,370.56. Following the sale, the general counsel owned 95,997 shares in the company, valued at approximately $3,271,577.76. This represents a 3.55% 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. Insiders have sold a total of 17,635 shares of company stock worth $560,351 over the last 90 days. 16.99% of the stock is currently owned by corporate insiders.

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.