Intech Investment Management LLC Sells 102,396 Shares of CarGurus, Inc. $CARG

Key Points

• Intech Investment Management cut its CarGurus stake by 67.8% in the fourth quarter, selling 102,396 shares and leaving it with 48,561 shares worth about $1.86 million.
• CarGurus reported better-than-expected Q1 results, with EPS of $0.58 versus $0.56 estimated and revenue of $243.56 million, up 8.2% year over year.
• Analysts remain mixed on the stock: the consensus rating is Hold, with a consensus price target of $37.79, while recent targets have ranged from $33.50 to $38.00.

Intech Investment Management LLC lessened its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 67.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,561 shares of the company's stock after selling 102,396 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of CarGurus worth $1,862,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. acquired a new stake in shares of CarGurus in the 3rd quarter valued at approximately $46,000. Torren Management LLC acquired a new stake in shares of CarGurus in the 4th quarter valued at approximately $49,000. EverSource Wealth Advisors LLC raised its position in shares of CarGurus by 491.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company's stock valued at $55,000 after acquiring an additional 1,362 shares during the period. Clearstead Advisors LLC raised its position in shares of CarGurus by 321.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company's stock valued at $82,000 after acquiring an additional 1,622 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of CarGurus in the 2nd quarter valued at approximately $87,000. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Performance

Shares of CARG stock opened at $27.37 on Friday. The company has a market capitalization of $2.47 billion, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.00 and a beta of 1.20. The company's 50 day moving average price is $33.31 and its two-hundred day moving average price is $33.83. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42.

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

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CARG shares. JPMorgan Chase & Co. increased their price target on shares of CarGurus from $36.00 to $38.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. UBS Group set a $35.00 price target on shares of CarGurus in a research report on Thursday, May 28th. Royal Bank Of Canada increased their price target 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. DA Davidson cut their price target on shares of CarGurus from $37.50 to $33.50 and set a "neutral" rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen upgraded shares of CarGurus from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $37.79.

Insider Activity at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the sale, the insider directly owned 98,191 shares in the company, valued at approximately $3,496,581.51. This trade represents a 2.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 4,341 shares of the firm's stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $33.04, for a total transaction of $143,426.64. Following the sale, the chief technology officer owned 246,098 shares in the company, valued at $8,131,077.92. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 20,924 shares of company stock valued at $669,419. Corporate insiders own 16.99% of the company's stock.

About CarGurus

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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