CarGurus (NASDAQ:CARG) CTO Sells $113,266.88 in Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Quinn sold 3,824 shares of CarGurus stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.62, for a total value of $113,266.88. Following the completion of the transaction, the chief technology officer owned 220,193 shares in the company, valued at approximately $6,522,116.66. This represents a 1.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Trading Up 0.1%

Shares of NASDAQ CARG opened at $28.77 on Thursday. The company has a market cap of $2.56 billion, a price-to-earnings ratio of 15.64, a PEG ratio of 1.02 and a beta of 1.22. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $41.22. The stock has a 50-day moving average price of $34.37 and a two-hundred day moving average price of $33.51.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. The company had revenue of $250.97 million for the quarter, compared to the consensus estimate of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, sell-side analysts predict that CarGurus, Inc. will post 2.17 earnings per share for the current year.

Institutional Trading of CarGurus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Congress Asset Management Co. boosted its stake in shares of CarGurus by 7.6% in the 3rd quarter. Congress Asset Management Co. now owns 2,125,686 shares of the company’s stock valued at $66,236,000 after purchasing an additional 149,338 shares during the last quarter. Versant Capital Management Inc raised its stake in CarGurus by 20.2% during the third quarter. Versant Capital Management Inc now owns 2,325 shares of the company’s stock worth $72,000 after buying an additional 391 shares during the last quarter. Tidal Investments LLC lifted its holdings in CarGurus by 16.0% in the second quarter. Tidal Investments LLC now owns 61,437 shares of the company’s stock valued at $2,094,000 after buying an additional 8,468 shares during the period. RFG Advisory LLC acquired a new position in CarGurus in the second quarter valued at $1,421,000. Finally, Squarepoint Ops LLC bought a new stake in CarGurus during the second quarter valued at $288,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on CARG. Freedom Capital upgraded CarGurus to a “strong-buy” rating in a research note on Friday, June 12th. Royal Bank Of Canada upped their target price on CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Citigroup increased their target price on CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Weiss Ratings raised CarGurus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Barclays reduced their price target on CarGurus from $41.00 to $38.00 and set an “overweight” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $39.95.

About CarGurus

CarGurus, Inc is a digital automotive marketplace that connects consumers with dealerships and private sellers offering new and used vehicles. Its platform enables shoppers to search vehicle listings, compare prices and features, review dealership information, and evaluate vehicle deals using data-driven tools. CarGurus generates revenue primarily by providing automotive dealers with listing, advertising, and other digital marketing services.

The company also offers products designed to help dealers attract shoppers, manage vehicle listings, and support the online and in-person vehicle-buying process.