Private Wealth Asset Management LLC Acquires New Shares in CarGurus, Inc. $CARG

Private Wealth Asset Management LLC bought a new stake in CarGurus, Inc. (NASDAQ:CARG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 870 shares of the company’s stock, valued at approximately $29,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CARG. QRG Capital Management Inc. boosted its position in shares of CarGurus by 4.3% during the second quarter. QRG Capital Management Inc. now owns 8,116 shares of the company’s stock worth $272,000 after buying an additional 332 shares during the period. US Bancorp DE boosted its position in shares of CarGurus by 14.6% during the first quarter. US Bancorp DE now owns 3,733 shares of the company’s stock worth $109,000 after buying an additional 475 shares during the period. Fifth Third Bancorp boosted its position in shares of CarGurus by 121.7% during the second quarter. Fifth Third Bancorp now owns 1,419 shares of the company’s stock worth $47,000 after buying an additional 779 shares during the period. Signaturefd LLC boosted its position in shares of CarGurus by 83.9% during the first quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock worth $51,000 after buying an additional 799 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock worth $73,000 after buying an additional 829 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CARG has been the subject of several recent research reports. JMP Securities reaffirmed a “market perform” rating and set a $38.00 price objective on shares of CarGurus in a research report on Wednesday, July 2nd. Oppenheimer reduced their price objective on CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, August 12th. Needham & Company LLC upped their price objective on CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Wall Street Zen cut CarGurus from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 5th. Finally, JPMorgan Chase & Co. increased their price target on CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.54.

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $35.25 on Friday. The stock has a 50 day moving average price of $35.00 and a 200 day moving average price of $32.36. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $41.33. The stock has a market capitalization of $3.50 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 1.66 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The firm had revenue of $234.03 million during the quarter, compared to analysts’ expectations of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 9,998 shares of the company’s 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 sale, the insider owned 54,807 shares in the company, valued at $2,021,282.16. This represents a 15.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $36.08, for a total value of $360,800.00. Following the completion of the sale, the chief operating officer owned 441,821 shares in the company, valued at $15,940,901.68. This represents a 2.21% decrease in their position. The disclosure for this sale can be found here. 16.99% of the stock is owned by corporate insiders.

CarGurus Company 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.