Allspring Global Investments Holdings LLC Buys 32,898 Shares of CarGurus, Inc. $CARG

Allspring Global Investments Holdings LLC boosted its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 36.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 123,839 shares of the company's stock after purchasing an additional 32,898 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.13% of CarGurus worth $4,155,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CARG. Royal Bank of Canada increased its position in shares of CarGurus by 22.6% during the first quarter. Royal Bank of Canada now owns 75,072 shares of the company's stock worth $2,186,000 after purchasing an additional 13,834 shares in the last quarter. AQR Capital Management LLC raised its position in shares of CarGurus by 25.4% in the 1st quarter. AQR Capital Management LLC now owns 25,946 shares of the company's stock valued at $756,000 after purchasing an additional 5,259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in CarGurus by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company's stock worth $1,889,000 after purchasing an additional 1,890 shares in the last quarter. Jane Street Group LLC grew its position in CarGurus by 113.0% during the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock worth $3,592,000 after purchasing an additional 65,420 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in CarGurus during the 2nd quarter valued at approximately $87,000. Institutional investors own 86.90% of the company's stock.

Insiders Place Their Bets

In other CarGurus news, General Counsel Javier Zamora sold 3,533 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.06, for a total value of $127,399.98. Following the sale, the general counsel owned 88,345 shares of the company's stock, valued at $3,185,720.70. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the transaction, the chief technology officer owned 233,146 shares of the company's stock, valued at $8,167,104.38. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,559 shares of company stock worth $841,568 in the last ninety days. 18.19% of the stock is owned by corporate insiders.

CarGurus Price Performance

Shares of CARG stock opened at $33.37 on Friday. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $39.42. The company has a 50-day moving average of $31.24 and a two-hundred day moving average of $32.68. The firm has a market cap of $3.01 billion, a PE ratio of 21.95, a price-to-earnings-growth ratio of 1.20 and a beta of 1.18.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $243.56 million for the quarter, compared to analysts' expectations of $243.10 million. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The firm's revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Sell-side analysts anticipate that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on CARG shares. Needham & Company LLC raised their price target on shares of CarGurus from $37.00 to $43.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their price target on CarGurus from $34.00 to $35.00 and gave the stock an "outperform" rating in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on CarGurus from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Friday, May 8th. Weiss Ratings cut CarGurus from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. Finally, Freedom Capital raised CarGurus to a "strong-buy" rating in a report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $38.55.

CarGurus Profile

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.

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