Congress Asset Management Co. Boosts Stock Holdings in CarGurus, Inc. $CARG

Key Points

• Congress Asset Management increased its CarGurus stake by 7.6% in the third quarter, adding 149,338 shares and bringing its holdings to 2.39% of the company. Institutional investors collectively own 86.90% of CarGurus.
• Analysts maintain a generally positive view, with CarGurus receiving a consensus “Moderate Buy” rating and an average price target of $40.45. Recent target increases included Oppenheimer and Needham, although one analyst downgraded the stock to “hold.”
• CarGurus shares fell 2.1% to $28.73, below their 50-day and 200-day moving averages. The company recently beat quarterly earnings and revenue estimates, reporting $0.66 EPS and $250.97 million in revenue, with revenue up 7.2% year over year.

Congress Asset Management Co. grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 7.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,125,686 shares of the company's stock after buying an additional 149,338 shares during the quarter. Congress Asset Management Co. owned 2.39% of CarGurus worth $66,236,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Versant Capital Management Inc increased its stake in 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. Ritholtz Wealth Management lifted its stake in shares of CarGurus by 4.2% in the 1st quarter. Ritholtz Wealth Management now owns 11,039 shares of the company's stock valued at $376,000 after purchasing an additional 449 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of CarGurus by 1.9% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 24,318 shares of the company's stock worth $829,000 after purchasing an additional 459 shares during the period. Aristides Capital LLC boosted its holdings in shares of CarGurus by 11.6% in the 1st quarter. Aristides Capital LLC now owns 7,920 shares of the company's stock worth $270,000 after purchasing an additional 825 shares during the period. Finally, EverSource Wealth Advisors LLC increased its position in shares of 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 during the last quarter. Institutional investors own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of analyst reports. Citigroup raised their price target on CarGurus from $32.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, August 14th. UBS Group boosted their price objective on shares of CarGurus from $37.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Oppenheimer increased their target price on shares of CarGurus from $38.00 to $44.00 and gave the company an "outperform" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered shares of CarGurus from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Needham & Company LLC lifted their price target on shares of CarGurus from $43.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.45.

Insider Activity

In other news, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $34.62, for a total value of $346,200.00. Following the transaction, the chief operating officer directly owned 455,349 shares in the company, valued at approximately $15,764,182.38. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Ismail Elshareef sold 2,673 shares of the firm's stock in a transaction dated Friday, October 2nd. The stock was sold at an average price of $29.62, for a total transaction of $79,174.26. Following the completion of the transaction, the insider directly owned 127,933 shares in the company, valued at $3,789,375.46. This represents a 2.05% 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. In the last three months, insiders sold 68,187 shares of company stock valued at $2,388,447. Insiders own 18.19% of the company's stock.

CarGurus Trading Down 2.1%

Shares of CARG stock traded down $0.62 on Tuesday, reaching $28.73. 2,550,800 shares of the company's stock were exchanged, compared to its average volume of 1,254,395. The company's fifty day simple moving average is $34.69 and its 200 day simple moving average is $33.58. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $41.22. The stock has a market capitalization of $2.56 billion, a PE ratio of 15.61, a P/E/G ratio of 1.07 and a beta of 1.22.

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

CarGurus 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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