CarGurus, Inc. $CARG Shares Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC lifted its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,307 shares of the company's stock after acquiring an additional 43,722 shares during the quarter. Convergence Investment Partners LLC owned 0.15% of CarGurus worth $4,812,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Brown Brothers Harriman & Co. purchased a new position in shares of CarGurus in the 3rd quarter valued at about $46,000. Torren Management LLC acquired a new stake in CarGurus in the fourth quarter valued at approximately $49,000. EverSource Wealth Advisors LLC grew its holdings in CarGurus by 491.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company's stock valued at $55,000 after purchasing an additional 1,362 shares during the period. Clearstead Advisors LLC increased its position in shares of CarGurus by 321.2% in the fourth quarter. Clearstead Advisors LLC now owns 2,127 shares of the company's stock valued at $82,000 after buying an additional 1,622 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of CarGurus by 356.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock valued at $83,000 after buying an additional 1,697 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Needham & Company LLC increased their target price on CarGurus from $37.00 to $43.00 and gave the company a "buy" rating in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. Weiss Ratings cut shares of CarGurus from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. UBS Group set a $35.00 price objective on shares of CarGurus in a report on Thursday, May 28th. Finally, Royal Bank Of Canada lifted their target price on shares of CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $38.05.

CarGurus Stock Performance

NASDAQ CARG opened at $35.16 on Tuesday. The business has a fifty day moving average price of $30.97 and a 200 day moving average price of $32.76. The company has a market cap of $3.17 billion, a P/E ratio of 23.13, a P/E/G ratio of 1.28 and a beta of 1.18. CarGurus, Inc. has a one year low of $26.39 and a one year high of $39.42.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 15.57% and a return on equity of 54.42%. The firm's quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Jennifer Ladd Hanson sold 2,499 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total transaction of $86,365.44. Following the transaction, the insider directly owned 92,894 shares in the company, valued at $3,210,416.64. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 8,072 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $29.53, for a total value of $238,366.16. Following the completion of the sale, the general counsel owned 103,061 shares of the company's stock, valued at $3,043,391.33. This trade represents a 7.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 25,559 shares of company stock worth $841,568. 18.19% of the stock is owned by insiders.

CarGurus Company 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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