Principal Financial Group Inc. Has $19.52 Million Stock Position in CarGurus, Inc. $CARG

Principal Financial Group Inc. lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 19.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 573,406 shares of the company’s stock after acquiring an additional 91,755 shares during the period. Principal Financial Group Inc.’s holdings in CarGurus were worth $19,524,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in CarGurus by 6.6% in the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock valued at $358,773,000 after acquiring an additional 594,670 shares in the last quarter. Prevatt Capital Ltd increased its holdings in CarGurus by 12.5% during the 1st quarter. Prevatt Capital Ltd now owns 2,475,000 shares of the company’s stock worth $84,274,000 after purchasing an additional 275,000 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CarGurus by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 2,101,437 shares of the company’s stock worth $80,602,000 after purchasing an additional 24,910 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of CarGurus by 2.9% in the fourth quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock worth $75,095,000 after purchasing an additional 54,937 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of CarGurus by 0.3% in the second quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock valued at $64,093,000 after purchasing an additional 6,676 shares in 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 analyst reports. UBS Group set a $35.00 target price on CarGurus in a research report on Thursday, May 28th. Piper Sandler reissued a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. Weiss Ratings cut CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Freedom Capital raised shares of CarGurus to a “strong-buy” rating in a report on Friday, June 12th. Finally, Needham & Company LLC upped their target price on shares of CarGurus from $37.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $38.55.

CarGurus Stock Performance

NASDAQ:CARG opened at $35.06 on Wednesday. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42. The firm has a 50-day moving average price of $31.04 and a two-hundred day moving average price of $32.74. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.18.

CarGurus (NASDAQ:CARG) last announced 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 for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, sell-side analysts forecast that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Insider Buying and Selling

In other CarGurus news, CTO Matthew Todd Quinn sold 3,824 shares of the company’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the transaction, the chief technology officer owned 233,146 shares in the company, valued at $8,167,104.38. This represents a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total value of $86,365.44. Following the sale, the insider directly owned 92,894 shares of the company’s stock, valued at approximately $3,210,416.64. This represents a 2.62% decrease in their ownership of the stock. 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. Over the last three months, insiders have sold 25,559 shares of company stock worth $841,568. 18.19% of the stock is owned by company 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.