Vinva Investment Management Ltd Purchases 11,186 Shares of CarGurus, Inc. $CARG

Vinva Investment Management Ltd boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 142.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,030 shares of the company’s stock after acquiring an additional 11,186 shares during the period. Vinva Investment Management Ltd’s holdings in CarGurus were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in CarGurus during the 2nd quarter valued at about $27,000. Private Wealth Asset Management LLC bought a new stake in shares of CarGurus in the 2nd quarter worth approximately $29,000. MAI Capital Management increased its stake in shares of CarGurus by 661.0% during the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock valued at $39,000 after buying an additional 1,018 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of CarGurus during the first quarter valued at approximately $46,000. Finally, Fifth Third Bancorp raised its holdings in shares of CarGurus by 121.7% during the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock valued at $47,000 after acquiring an additional 779 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the topic of a number of research analyst reports. Oppenheimer reduced their price objective on shares of CarGurus from $42.00 to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a research note on Wednesday. Citigroup raised their price objective on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday, October 28th. Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Finally, JPMorgan Chase & Co. increased their target price on CarGurus from $38.00 to $43.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Four 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 has an average rating of “Hold” and a consensus price target of $39.95.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $35.38 on Friday. The firm’s 50 day moving average price is $35.55 and its 200-day moving average price is $33.99. CarGurus, Inc. has a 52-week low of $24.65 and a 52-week high of $41.33. The company has a market cap of $3.38 billion, a PE ratio of 24.06, a P/E/G ratio of 1.64 and a beta of 1.50.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. CarGurus had a net margin of 16.41% and a return on equity of 41.31%. The company had revenue of $238.70 million during the quarter, compared to analyst estimates of $234.57 million. During the same period in the previous year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS. Q4 2025 guidance at 0.610-0.670 EPS. On average, analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $36.08, for a total transaction of $360,800.00. Following the sale, the chief operating officer directly owned 441,821 shares of the company’s stock, valued at $15,940,901.68. This trade represents a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ismail Elshareef sold 1,228 shares of CarGurus stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $34.98, for a total value of $42,955.44. Following the completion of the sale, the insider owned 95,907 shares of the company’s stock, valued at $3,354,826.86. The trade was a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,226 shares of company stock worth $1,471,482 over the last quarter. 16.99% of the stock is currently owned by insiders.

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.