Neuberger Berman Group LLC Takes $216,000 Position in CarGurus, Inc. $CARG

Neuberger Berman Group LLC acquired a new position in CarGurus, Inc. (NASDAQ:CARG) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 6,459 shares of the company’s stock, valued at approximately $216,000.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CARG shares. Oppenheimer reduced their target price on shares of CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a report on Tuesday, August 12th. JPMorgan Chase & Co. increased their price objective on CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday, October 14th. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. UBS Group boosted their target price on CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. Finally, Zacks Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $39.95.

Insider Buying and Selling at CarGurus

In other news, insider Jennifer Ladd Hanson sold 9,998 shares of the company’s stock in a transaction dated 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 owned 54,807 shares in the company, valued at $2,021,282.16. This represents a 15.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction that occurred 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 completion of 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 disclosure for this sale is available in the SEC filing. Insiders have sold a total of 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 corporate insiders.

CarGurus Stock Down 1.4%

CARG opened at $35.38 on Friday. The stock has a fifty day moving average of $35.55 and a 200-day moving average of $33.99. The firm has a market capitalization of $3.38 billion, a P/E ratio of 24.06, a PEG ratio of 1.64 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 issued its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The business 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%.CarGurus’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company 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. On average, analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal 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.