Jupiter Asset Management Ltd. Has $5.87 Million Stock Holdings in CarGurus, Inc. $CARG

Jupiter Asset Management Ltd. raised its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 992.1% during the second quarter, Holdings Channel reports. The firm owned 175,500 shares of the company’s stock after buying an additional 159,430 shares during the period. Jupiter Asset Management Ltd.’s holdings in CarGurus were worth $5,874,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CARG. Intech Investment Management LLC boosted its stake in CarGurus by 50.0% in the 1st quarter. Intech Investment Management LLC now owns 67,246 shares of the company’s stock valued at $1,959,000 after buying an additional 22,425 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of CarGurus by 6.7% during the second quarter. Nordea Investment Management AB now owns 336,930 shares of the company’s stock valued at $11,247,000 after acquiring an additional 21,167 shares during the period. Vanguard Group Inc. boosted its stake in shares of CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company’s stock valued at $284,909,000 after purchasing an additional 93,722 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of CarGurus by 12.7% in the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock worth $234,560,000 after purchasing an additional 906,830 shares during the last quarter. Finally, Raymond James Financial Inc. increased its position in shares of CarGurus by 3.9% during the 1st quarter. Raymond James Financial Inc. now owns 553,621 shares of the company’s stock worth $16,127,000 after purchasing an additional 20,906 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. UBS Group lifted their price objective on CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Citigroup boosted their price objective on CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 28th. Wall Street Zen cut CarGurus from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Needham & Company LLC raised their price objective on shares of CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $40.22.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the sale, the chief operating officer directly owned 410,259 shares of the company’s stock, valued at $14,350,859.82. The trade was a 2.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the sale, the insider owned 54,807 shares of the company’s stock, valued at $2,021,282.16. This represents a 15.43% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 41,226 shares of company stock valued at $1,471,482. Company insiders own 16.99% of the company’s stock.

CarGurus Stock Up 1.6%

Shares of CARG opened at $36.22 on Friday. The stock’s fifty day simple moving average is $35.82 and its 200-day simple moving average is $33.51. The firm has a market capitalization of $3.60 billion, a PE ratio of 24.64, a price-to-earnings-growth ratio of 1.71 and a beta of 1.50. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 16.41% and a return on equity of 41.31%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS. Q4 2025 guidance at 0.610-0.670 EPS. Analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

About CarGurus

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.