CarGurus, Inc. $CARG Stock Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its CarGurus stake by 159.5% in the third quarter, acquiring 216,304 additional shares for a total holding of 351,886 shares. Institutional investors own 86.90% of the company.
• Analysts maintain a generally positive outlook, with CarGurus receiving a consensus “Moderate Buy” rating and an average price target of $39.95. Recent firms raised targets as high as $44, though Barclays lowered its target to $38.
• CarGurus exceeded quarterly expectations with EPS of $0.66 versus a $0.61 estimate and revenue of $250.97 million, up 7.2% year over year. Shares opened at $31.02, while insiders sold 78,187 shares worth approximately $2.69 million during the latest quarter.

Assenagon Asset Management S.A. raised its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 159.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 351,886 shares of the company's stock after acquiring an additional 216,304 shares during the period. Assenagon Asset Management S.A. owned 0.40% of CarGurus worth $10,965,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio bought a new position in CarGurus during the 2nd quarter worth $43,000. Farther Finance Advisors LLC boosted its holdings in shares of CarGurus by 107.5% during the third quarter. Farther Finance Advisors LLC now owns 1,531 shares of the company's stock valued at $48,000 after acquiring an additional 793 shares during the period. Versant Capital Management Inc grew its position in shares of CarGurus by 20.2% during the third quarter. Versant Capital Management Inc now owns 2,325 shares of the company's stock worth $72,000 after acquiring an additional 391 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in shares of CarGurus by 356.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock worth $83,000 after acquiring an additional 1,697 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of CarGurus by 28.3% during the first quarter. EverSource Wealth Advisors LLC now owns 3,778 shares of the company's stock worth $129,000 after acquiring an additional 834 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Ratings Changes

CARG has been the subject of several recent analyst reports. Barclays decreased their target price on shares of CarGurus from $41.00 to $38.00 and set an "overweight" rating for the company in a research report on Tuesday, October 6th. Needham & Company LLC lifted their price target on CarGurus from $43.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 7th. Royal Bank Of Canada lifted their price target on CarGurus from $35.00 to $42.00 and gave the company an "outperform" rating in a report on Friday, August 7th. BTIG Research boosted their price objective on CarGurus from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, August 7th. Finally, B. Riley Financial reissued a "buy" rating on shares of CarGurus in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $39.95.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Quinn sold 3,824 shares of the business'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 $113,266.88. Following the sale, the chief technology officer directly owned 220,193 shares of the company's stock, valued at $6,522,116.66. The trade was a 1.71% decrease in their ownership of the stock. The sale 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, insider Ismail Elshareef sold 2,673 shares of the company's stock in a transaction on Friday, October 2nd. The shares were sold at an average price of $29.62, for a total value of $79,174.26. Following the sale, the insider directly owned 127,933 shares of the company's stock, valued at approximately $3,789,375.46. This represents a 2.05% 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. Over the last quarter, insiders sold 78,187 shares of company stock worth $2,691,547. 18.19% of the stock is owned by insiders.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $31.02 on Tuesday. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.07 and a beta of 1.22. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $41.22. The company has a 50 day moving average price of $33.21 and a 200 day moving average price of $33.22.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.05. The firm had revenue of $250.97 million for the quarter, compared to analyst estimates of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The firm's quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, sell-side analysts expect that CarGurus, Inc. will post 2.17 EPS 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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