Neuberger Berman Group LLC Makes New Investment in CarGurus, Inc. $CARG

Neuberger Berman Group LLC purchased a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 6,459 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in CarGurus in the second quarter worth approximately $27,000. Private Wealth Asset Management LLC acquired a new stake in CarGurus in the second quarter valued at approximately $29,000. MAI Capital Management grew its position in CarGurus by 661.0% in the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock worth $39,000 after acquiring an additional 1,018 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of CarGurus during the 1st quarter worth $46,000. Finally, Fifth Third Bancorp increased its stake in shares of CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after purchasing an additional 779 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

Analyst Ratings Changes

CARG has been the subject of several analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. DA Davidson set a $37.50 target price on CarGurus in a report on Monday, November 17th. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, November 22nd. BTIG Research reiterated a “buy” rating and set a $39.00 price target on shares of CarGurus in a research note on Friday, September 5th. Finally, Oppenheimer lowered their price objective on CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, CarGurus currently has a consensus rating of “Hold” and a consensus target price of $39.95.

Insider Buying and Selling at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total value of $368,726.24. Following the transaction, the insider directly owned 54,807 shares of the company’s stock, valued at $2,021,282.16. The trade was a 15.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $349,800.00. Following the transaction, the chief operating officer owned 410,259 shares of the company’s stock, valued at approximately $14,350,859.82. This trade represents a 2.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,226 shares of company stock valued at $1,471,482 in the last 90 days. 16.99% of the stock is currently owned by insiders.

CarGurus Price Performance

CarGurus stock opened at $35.38 on Friday. The firm has a market cap of $3.38 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 1.64 and a beta of 1.50. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The firm has a fifty day moving average price of $35.55 and a two-hundred day moving average price of $33.99.

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

CarGurus Profile

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.