Jupiter Asset Management Ltd. Has $8.18 Million Stock Position in CarGurus, Inc. $CARG

Key Points

• Jupiter Asset Management sharply reduced its CarGurus stake by 63.2% in the fourth quarter, leaving it with 213,368 shares valued at about $8.18 million.
• CarGurus reported better-than-expected earnings for the quarter, with EPS of $0.58 versus estimates of $0.56 and revenue of $243.56 million, up 8.2% year over year.
• Despite a recent 1.6% decline in the stock, analysts remain cautiously upbeat: the consensus rating is Moderate Buy with an average price target of $37.79.

Jupiter Asset Management Ltd. cut its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 63.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 213,368 shares of the company's stock after selling 366,749 shares during the period. Jupiter Asset Management Ltd. owned about 0.22% of CarGurus worth $8,183,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of CARG. JPMorgan Chase & Co. lifted its holdings in shares of CarGurus by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company's stock valued at $20,314,000 after acquiring an additional 82,511 shares during the period. Aurora Investment Counsel bought a new stake in shares of CarGurus in the 3rd quarter worth about $2,174,000. Envestnet Asset Management Inc. grew its holdings in shares of CarGurus by 100.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 102,818 shares of the company's stock worth $3,828,000 after purchasing an additional 51,487 shares during the last quarter. Congress Asset Management Co. increased its position in shares of CarGurus by 2.9% during the 4th quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company's stock worth $75,095,000 after purchasing an additional 54,937 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of CarGurus by 11.5% during the 3rd quarter. Federated Hermes Inc. now owns 465,978 shares of the company's stock worth $17,348,000 after purchasing an additional 48,177 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Trading Down 1.6%

Shares of NASDAQ CARG opened at $29.86 on Friday. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $39.42. The company has a 50-day moving average of $33.78 and a two-hundred day moving average of $34.04. The company has a market cap of $2.69 billion, a PE ratio of 19.64, a P/E/G ratio of 1.11 and a beta of 1.28.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CARG shares. Oppenheimer reduced their price target on shares of CarGurus from $40.00 to $38.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 24th. Needham & Company LLC lifted their target price on shares of CarGurus from $37.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Barclays began coverage on CarGurus in a report on Thursday. They issued an "overweight" rating and a $35.00 target price on the stock. Royal Bank Of Canada raised their price target on CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Finally, BTIG Research cut their price objective on CarGurus from $44.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.79.

Insider Transactions at CarGurus

In other news, Director Stephen Kaufer bought 30,766 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $32.50 per share, for a total transaction of $999,895.00. Following the completion of the transaction, the director directly owned 323,939 shares in the company, valued at $10,528,017.50. The trade was a 10.49% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the firm's stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total value of $88,989.39. Following the completion of the transaction, the insider owned 98,191 shares in the company, valued at approximately $3,496,581.51. This represents a 2.48% decrease in their position. 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 sold a total of 12,852 shares of company stock valued at $431,053 over the last quarter. 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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