Louisiana State Employees Retirement System Purchases Shares of 36,000 CarGurus, Inc. $CARG

Louisiana State Employees Retirement System acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the first quarter, HoldingsChannel reports. The institutional investor acquired 36,000 shares of the company’s stock, valued at approximately $1,226,000.

Several other institutional investors have also modified their holdings of CARG. JPMorgan Chase & Co. lifted its holdings in shares of CarGurus by 17.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company’s stock valued at $20,314,000 after purchasing an additional 82,511 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of CarGurus by 2.9% in the 4th quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock valued at $75,095,000 after purchasing an additional 54,937 shares during the period. Convergence Investment Partners LLC purchased a new position in CarGurus during the 4th quarter worth approximately $3,742,000. Aberdeen Group plc purchased a new position in CarGurus during the 4th quarter worth approximately $14,643,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in CarGurus during the fourth quarter worth approximately $2,113,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In related news, General Counsel Javier Zamora sold 8,072 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were 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 in the company, valued at $3,043,391.33. This trade represents a 7.26% 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 2,499 shares of CarGurus stock in a transaction that occurred 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 completion of the sale, the insider directly owned 92,894 shares in the company, valued at $3,210,416.64. This represents a 2.62% 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 have sold 17,635 shares of company stock valued at $560,351 over the last three months. 16.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CARG shares. Barclays began coverage on CarGurus in a report on Thursday, May 28th. They issued an “overweight” rating and a $35.00 price objective for the company. Citigroup started coverage on shares of CarGurus in a research report on Friday, June 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Finally, Piper Sandler reaffirmed a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.77.

CarGurus Stock Performance

Shares of CARG opened at $36.24 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 23.84, a P/E/G ratio of 1.32 and a beta of 1.18. The company’s fifty day moving average is $31.38 and its two-hundred day moving average is $33.10. CarGurus, Inc. has a 1 year low of $26.39 and a 1 year high of $39.42.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The company had revenue of $243.56 million during the quarter, compared to the consensus estimate of $243.10 million. During the same quarter in the prior year, the firm earned $0.46 EPS. CarGurus’s quarterly revenue was up 8.2% on a year-over-year basis. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Sell-side analysts predict that CarGurus, Inc. will post 2.11 EPS for the current year.

CarGurus Company 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.