Louisiana State Employees Retirement System Buys New Position in CarGurus, Inc. $CARG

Louisiana State Employees Retirement System bought a new stake in CarGurus, Inc. (NASDAQ:CARG) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 36,000 shares of the company’s stock, valued at approximately $1,226,000.

Several other hedge funds have also made changes to their positions in CARG. Horizon Investments LLC increased its stake in CarGurus by 2.0% during the 4th quarter. Horizon Investments LLC now owns 16,375 shares of the company’s stock worth $628,000 after buying an additional 318 shares during the period. ProShare Advisors LLC boosted its position in CarGurus by 2.8% in the 4th quarter. ProShare Advisors LLC now owns 15,992 shares of the company’s stock valued at $613,000 after buying an additional 436 shares during the period. Ritholtz Wealth Management boosted its position in CarGurus by 4.2% in the 1st quarter. Ritholtz Wealth Management now owns 11,039 shares of the company’s stock valued at $376,000 after buying an additional 449 shares during the period. HighTower Advisors LLC grew its stake in shares of CarGurus by 7.8% in the fourth quarter. HighTower Advisors LLC now owns 7,094 shares of the company’s stock worth $272,000 after acquiring an additional 514 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in shares of CarGurus by 1.6% in the fourth quarter. Illinois Municipal Retirement Fund now owns 43,583 shares of the company’s stock worth $1,671,000 after acquiring an additional 679 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Price Performance

NASDAQ CARG opened at $36.24 on Friday. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42. The stock has a market capitalization of $3.27 billion, a PE ratio of 23.84, a price-to-earnings-growth ratio of 1.32 and a beta of 1.18. The firm has a 50 day moving average of $31.38 and a two-hundred day moving average of $33.10.

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

Insider Buying and Selling at CarGurus

In other CarGurus news, General Counsel Javier Zamora sold 8,072 shares of CarGurus stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $29.53, for a total transaction of $238,366.16. Following the completion of the sale, the general counsel directly owned 103,061 shares of the company’s stock, valued at $3,043,391.33. The trade was a 7.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total value of $86,365.44. Following the transaction, the insider directly owned 92,894 shares of the company’s stock, valued at approximately $3,210,416.64. This represents a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,635 shares of company stock worth $560,351 in the last three months. 16.99% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Freedom Capital raised CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. Piper Sandler reiterated a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. Citigroup started coverage on CarGurus in a research note on Friday, June 12th. They set a “buy” rating for the company. Needham & Company LLC upped their price target on CarGurus from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings lowered CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.77.

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.