97,585 Shares in CarGurus, Inc. $CARG Purchased by Convergence Investment Partners LLC

Convergence Investment Partners LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 97,585 shares of the company’s stock, valued at approximately $3,742,000.

Several other institutional investors also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. grew its holdings in CarGurus by 159,137.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after purchasing an additional 536,292 shares during the period. Swiss Life Asset Management Ltd acquired a new stake in CarGurus in the fourth quarter valued at approximately $334,000. Truist Financial Corp acquired a new stake in CarGurus in the fourth quarter valued at approximately $268,000. Horizon Investments LLC grew its holdings in CarGurus by 2.0% in the fourth quarter. Horizon Investments LLC now owns 16,375 shares of the company’s stock valued at $628,000 after purchasing an additional 318 shares during the period. Finally, Torren Management LLC acquired a new stake in CarGurus in the fourth quarter valued at approximately $49,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CarGurus

In other news, insider Jennifer Ladd Hanson sold 2,499 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $35.61, for a total value of $88,989.39. Following the transaction, the insider owned 98,191 shares in the company, valued at $3,496,581.51. This trade represents a 2.48% decrease in their ownership of the stock. The transaction 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, CTO Matthew Todd Quinn sold 4,341 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total value of $143,426.64. Following the completion of the transaction, the chief technology officer owned 246,098 shares in the company, valued at approximately $8,131,077.92. This trade represents a 1.73% 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 ninety days, insiders have sold 12,852 shares of company stock worth $431,053. 16.99% of the stock is owned by insiders.

CarGurus Price Performance

NASDAQ CARG opened at $28.67 on Friday. The company has a market cap of $2.59 billion, a PE ratio of 18.86, a price-to-earnings-growth ratio of 1.12 and a beta of 1.28. The stock’s 50 day simple moving average is $34.57 and its 200-day simple moving average is $34.45. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $39.42.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The business 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities research analysts anticipate that CarGurus, Inc. will post 2.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Oppenheimer dropped their price objective on CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Needham & Company LLC raised their price objective on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Royal Bank Of Canada raised their price objective on CarGurus from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Monday. Finally, BTIG Research dropped their price objective on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, CarGurus has an average rating of “Hold” and a consensus target price of $38.23.

CarGurus 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.