CarGurus, Inc. $CARG Shares Sold by Fort Washington Investment Advisors Inc. OH

Key Points

• Fort Washington Investment Advisors reduced its CarGurus stake by 32.8% in the third quarter, selling 350,633 shares and retaining 718,447 shares worth approximately $22.4 million. Institutional investors collectively own 86.9% of the company.
• Analyst sentiment remains favorable but mixed: CarGurus has a consensus “Moderate Buy” rating and an average price target of $39.95, compared with its reported opening price of $30.30.
• CarGurus exceeded quarterly expectations with $0.66 in adjusted EPS versus a $0.61 estimate and revenue of $250.97 million. However, insiders sold 68,187 shares worth about $2.39 million over the prior quarter.

Fort Washington Investment Advisors Inc. OH cut its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 32.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718,447 shares of the company's stock after selling 350,633 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.81% of CarGurus worth $22,387,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new stake in CarGurus during the second quarter worth approximately $43,000. Farther Finance Advisors LLC boosted its stake in CarGurus by 107.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,531 shares of the company's stock valued at $48,000 after purchasing an additional 793 shares in the last quarter. Versant Capital Management Inc boosted its stake in CarGurus by 20.2% during the 3rd quarter. Versant Capital Management Inc now owns 2,325 shares of the company's stock valued at $72,000 after purchasing an additional 391 shares in the last quarter. Rockefeller Capital Management L.P. boosted its stake in CarGurus by 356.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock valued at $83,000 after purchasing an additional 1,697 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in CarGurus by 28.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,778 shares of the company's stock valued at $129,000 after purchasing an additional 834 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CARG. Royal Bank Of Canada boosted their price objective on CarGurus from $35.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Wall Street Zen cut CarGurus from a "buy" rating to a "hold" rating in a research note on Saturday, October 3rd. Barclays decreased their target price on CarGurus from $41.00 to $38.00 and set an "overweight" rating for the company in a research note on Tuesday, October 6th. BTIG Research lifted their target price on CarGurus from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, August 7th. Finally, UBS Group dropped their price target on shares of CarGurus from $40.00 to $35.00 and set a "neutral" rating on the stock in a research report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $39.95.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 7,234 shares of the company's stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.62, for a total transaction of $214,271.08. Following the transaction, the chief marketing officer directly owned 94,884 shares of the company's stock, valued at approximately $2,810,464.08. The trade was a 7.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Samuel Zales sold 10,000 shares of the stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $34.62, for a total value of $346,200.00. Following the completion of the sale, the chief operating officer directly owned 455,349 shares of the company's stock, valued at approximately $15,764,182.38. This represents a 2.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 68,187 shares of company stock valued at $2,388,447 over the last quarter. 18.19% of the stock is owned by insiders.

CarGurus Stock Performance

CarGurus stock opened at $30.30 on Friday. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $41.22. The firm has a market capitalization of $2.70 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 1.07 and a beta of 1.22. The company has a 50 day moving average price of $33.51 and a 200 day moving average price of $33.28.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $250.97 million for the quarter, compared to the consensus estimate of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The company's revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. Equities analysts forecast that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

CarGurus Company Profile

CarGurus, Inc is a digital automotive marketplace that connects consumers with dealerships and private sellers offering new and used vehicles. Its platform enables shoppers to search vehicle listings, compare prices and features, review dealership information, and evaluate vehicle deals using data-driven tools. CarGurus generates revenue primarily by providing automotive dealers with listing, advertising, and other digital marketing services.

The company also offers products designed to help dealers attract shoppers, manage vehicle listings, and support the online and in-person vehicle-buying process.

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