751,244 Shares in CarGurus, Inc. $CARG Purchased by Nuveen LLC

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 purchased a new position in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 751,244 shares of the company's stock, valued at approximately $21,884,000. Nuveen LLC owned about 0.72% of CarGurus as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Summit Investment Advisors Inc. increased its position in CarGurus by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after purchasing an additional 423 shares during the last quarter. US Bancorp DE increased its position in CarGurus by 14.6% in the first quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after purchasing an additional 475 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CarGurus by 0.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock worth $2,300,000 after purchasing an additional 483 shares during the last quarter. NewEdge Advisors LLC increased its position in CarGurus by 25.0% in the fourth quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after purchasing an additional 543 shares during the last quarter. Finally, MetLife Investment Management LLC increased its position in CarGurus by 1.5% in the fourth quarter. MetLife Investment Management LLC now owns 51,676 shares of the company's stock worth $1,888,000 after purchasing an additional 747 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Insider Activity

In other news, General Counsel Javier Zamora sold 6,154 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $215,390.00. Following the completion of the sale, the general counsel directly owned 92,807 shares of the company's stock, valued at approximately $3,248,245. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $33.84, for a total transaction of $58,644.72. Following the sale, the chief executive officer directly owned 117,045 shares of the company's stock, valued at $3,960,802.80. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,049 shares of company stock valued at $1,616,397. Insiders own 16.99% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CARG shares. UBS Group boosted their price target on shares of CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Citigroup cut their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. JMP Securities reiterated a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a research report on Wednesday, July 2nd. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. Finally, Needham & Company LLC boosted their price objective on shares of CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, CarGurus presently has a consensus rating of "Hold" and an average price target of $38.13.

CarGurus Trading Up 6.1%

Shares of CARG traded up $1.98 during trading hours on Friday, reaching $34.18. 1,713,529 shares of the company traded hands, compared to its average volume of 1,084,050. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 27.79, a PEG ratio of 1.62 and a beta of 1.42. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The stock's fifty day moving average price is $32.73 and its 200 day moving average price is $31.65.

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, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The business's revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

About CarGurus

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.