Thrivent Financial for Lutherans Cuts Stock Position in CarGurus, Inc. $CARG

Key Points

• Thrivent Financial for Lutherans sharply reduced its CarGurus stake by 88.8% in the fourth quarter, selling 497,375 shares and ending with 62,470 shares worth about $2.4 million.
• Insiders also sold shares recently: Jennifer Ladd Hanson and CTO Matthew Todd Quinn both made Rule 10b5-1 sales, and insiders sold a total of 12,852 shares in the last quarter.
• CarGurus beat quarterly earnings estimates on May 7, reporting $0.58 EPS versus $0.56 expected, while revenue rose 8.2% year over year to $243.56 million.

Thrivent Financial for Lutherans lessened its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 88.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 62,470 shares of the company's stock after selling 497,375 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.07% of CarGurus worth $2,396,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CARG. UBS Group AG raised its holdings in shares of CarGurus by 158.2% in the 3rd quarter. UBS Group AG now owns 1,537,856 shares of the company's stock valued at $57,254,000 after buying an additional 942,199 shares during the period. Wellington Management Group LLP raised its holdings in shares of CarGurus by 6.6% in the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company's stock valued at $358,773,000 after buying an additional 594,670 shares during the period. Prevatt Capital Ltd raised its holdings in shares of CarGurus by 28.1% in the 3rd quarter. Prevatt Capital Ltd now owns 2,050,000 shares of the company's stock valued at $76,322,000 after buying an additional 450,000 shares during the period. No Street GP LP lifted its holdings in CarGurus by 108.9% during the 3rd quarter. No Street GP LP now owns 835,000 shares of the company's stock worth $31,087,000 after buying an additional 435,340 shares in the last quarter. Finally, Jupiter Asset Management Ltd. lifted its holdings in CarGurus by 230.6% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 580,117 shares of the company's stock worth $21,598,000 after buying an additional 404,617 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity

In other news, insider Jennifer Ladd Hanson sold 2,499 shares of the firm's stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed 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 on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total transaction of $143,426.64. Following the completion of the sale, the chief technology officer owned 246,098 shares in the company, valued at $8,131,077.92. The trade was 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. Insiders have sold a total of 12,852 shares of company stock valued at $431,053 over the last quarter. Company insiders own 16.99% of the company's stock.

Wall Street Analyst Weigh In

CARG has been the topic of a number of research reports. UBS Group increased their target price on shares of CarGurus from $33.00 to $37.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. JPMorgan Chase & Co. increased their target price on shares of CarGurus from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Friday, May 8th. DA Davidson reduced their target price on shares of CarGurus from $37.50 to $33.50 and set a "neutral" rating on the stock in a report on Friday, February 20th. BTIG Research reduced their target price on shares of CarGurus from $44.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Finally, Oppenheimer reduced their target price on shares of CarGurus from $40.00 to $38.00 and set an "outperform" rating on the stock in a report on Tuesday, February 24th. Five equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $38.23.

CarGurus Price Performance

CarGurus stock opened at $28.24 on Tuesday. The firm has a market cap of $2.55 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 1.05 and a beta of 1.28. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $39.42. The company's 50 day moving average is $34.03 and its two-hundred day moving average is $34.16.

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

CarGurus Company Profile

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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