Legal & General Group Plc Reduces Stock Position in CarGurus, Inc. $CARG

Legal & General Group Plc lessened its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 9.1% during the 4th quarter, Holdings Channel reports. The firm owned 218,282 shares of the company’s stock after selling 21,808 shares during the quarter. Legal & General Group Plc’s holdings in CarGurus were worth $8,371,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new stake in shares of CarGurus in the third quarter worth about $46,000. Torren Management LLC purchased a new position in CarGurus during the fourth quarter worth approximately $49,000. EverSource Wealth Advisors LLC boosted its position in CarGurus by 491.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after purchasing an additional 1,362 shares in the last quarter. Quantbot Technologies LP purchased a new position in CarGurus during the second quarter worth approximately $87,000. Finally, Global Retirement Partners LLC boosted its position in CarGurus by 859.9% during the fourth quarter. Global Retirement Partners LLC now owns 2,323 shares of the company’s stock worth $89,000 after purchasing an additional 2,081 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, General Counsel Javier Zamora sold 8,072 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $29.53, for a total value of $238,366.16. Following the completion of the sale, the general counsel owned 103,061 shares of the company’s stock, valued at approximately $3,043,391.33. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total value of $88,989.39. Following the completion of the sale, the insider directly owned 98,191 shares of the company’s stock, valued at approximately $3,496,581.51. This represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 20,924 shares of company stock worth $669,419 in the last three months. Company insiders own 16.99% of the company’s stock.

CarGurus Price Performance

Shares of CarGurus stock opened at $27.42 on Friday. The business has a 50 day simple moving average of $33.15 and a two-hundred day simple moving average of $33.78. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $39.42. The stock has a market capitalization of $2.47 billion, a P/E ratio of 18.04, a PEG ratio of 1.00 and a beta of 1.20.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The business had revenue of $243.56 million during the quarter, compared to analysts’ expectations of $243.10 million. During the same quarter in the prior year, the firm earned $0.46 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, research analysts anticipate that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CARG. Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Barclays began coverage on CarGurus in a research report on Thursday, May 28th. They set an “overweight” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. increased their price target on CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. UBS Group set a $35.00 price target on CarGurus in a research report on Thursday, May 28th. Finally, DA Davidson lowered their price target on CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, CarGurus currently has an average rating of “Hold” and an average price target of $37.79.

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.