Nuveen LLC Takes Position in CarGurus, Inc. $CARG

Key Points

• Nuveen LLC has acquired 751,244 shares of CarGurus, Inc., valued at approximately $21.88 million, representing about 0.72% of the company's stock.
• In recent quarters, several institutional investors, including GeoWealth Management LLC and Versant Capital Management Inc, have significantly increased their stakes in CarGurus.
• Analysts' ratings for CarGurus are mixed, with a consensus target price of $38.13 and multiple buy and hold ratings among equity research firms.

Nuveen LLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 751,244 shares of the company's stock, valued at approximately $21,884,000. Nuveen LLC owned 0.72% of CarGurus at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GeoWealth Management LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $49,000. Signaturefd LLC raised its position in shares of CarGurus by 83.9% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after purchasing an additional 799 shares during the period. Blue Trust Inc. grew its stake in CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after acquiring an additional 829 shares in the last quarter. Versant Capital Management Inc grew its stake in CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after acquiring an additional 2,267 shares in the last quarter. Finally, Bayforest Capital Ltd purchased a new position in CarGurus during the first quarter valued at $76,000. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Performance

Shares of CarGurus stock traded up $1.8050 during trading on Friday, hitting $34.0050. 998,956 shares of the company's stock were exchanged, compared to its average volume of 1,047,085. The business has a 50-day simple moving average of $32.67 and a 200-day simple moving average of $31.74. CarGurus, Inc. has a 52-week low of $24.65 and a 52-week high of $41.33. The stock has a market capitalization of $3.38 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 1.50 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The firm had revenue of $234.03 million during the quarter, compared to analysts' expectations of $232.29 million. During the same quarter last year, the company posted $0.41 earnings per share. The firm's revenue was up 7.0% compared to the same quarter last year. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup cut their target price on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. JMP Securities reaffirmed a "market perform" rating and set a $38.00 target price on shares of CarGurus in a research note on Wednesday, July 2nd. UBS Group lifted their price objective on shares of CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Finally, Gordon Haskett initiated coverage on shares of CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, CarGurus has a consensus rating of "Hold" and an average target price of $38.13.

Insider Buying and Selling at CarGurus

In other news, insider Ismail Elshareef sold 1,325 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $46,375.00. Following the completion of the sale, the insider owned 104,322 shares of the company's stock, valued at $3,651,270. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $125,378.01. Following the sale, the chief technology officer directly owned 216,877 shares of the company's stock, valued at $7,176,459.93. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,049 shares of company stock valued at $1,616,397. Corporate insiders own 16.99% of the company's stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.