VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.06 Million in CarGurus, Inc. $CARG

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 31,228 shares of the company's stock, valued at approximately $1,065,000.

A number of other hedge funds also recently made changes to their positions in CARG. California State Teachers Retirement System grew its position in CarGurus by 2,879.8% in the second quarter. California State Teachers Retirement System now owns 3,003,431 shares of the company's stock worth $102,387,000 after acquiring an additional 2,902,639 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new stake in CarGurus during the second quarter valued at about $282,000. Pale Fire Capital SE bought a new stake in CarGurus during the second quarter worth about $13,112,000. Nykredit A S bought a new stake in CarGurus during the second quarter worth about $183,000. Finally, B. Metzler seel. Sohn & Co. AG boosted its holdings in shares of CarGurus by 94.9% in the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 55,263 shares of the company's stock worth $1,884,000 after purchasing an additional 26,904 shares in the last quarter. 86.90% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of research reports. B. Riley Financial reissued a "buy" rating on shares of CarGurus in a report on Friday, August 7th. Royal Bank Of Canada upped their target price on CarGurus from $35.00 to $42.00 and gave the stock an "outperform" rating in a research note on Friday, August 7th. Oppenheimer increased their price target on shares of CarGurus from $38.00 to $44.00 and gave the company an "outperform" rating in a research report on Wednesday, August 12th. Freedom Capital raised shares of CarGurus to a "strong-buy" rating in a research note on Friday, June 12th. Finally, BTIG Research boosted their price objective on shares of CarGurus from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, CarGurus currently has a consensus rating of "Moderate Buy" and an average price target of $40.75.

CarGurus Stock Down 0.0%

Shares of CarGurus stock opened at $34.42 on Monday. The firm has a market cap of $3.07 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.22 and a beta of 1.16. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $41.22. The company's fifty day simple moving average is $35.52 and its two-hundred day simple moving average is $33.57.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The firm had revenue of $250.97 million during the quarter, compared to the consensus estimate of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The company's quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, sell-side analysts expect that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $36.50, for a total transaction of $365,000.00. Following the transaction, the chief operating officer directly owned 465,349 shares of the company's stock, valued at approximately $16,985,238.50. The trade was a 2.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Dafna Sarnoff sold 17,151 shares of the firm's stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $37.00, for a total value of $634,587.00. Following the completion of the sale, the chief marketing officer directly owned 109,668 shares of the company's stock, valued at $4,057,716. The trade was a 13.52% decrease in their position. 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 61,943 shares of company stock worth $2,238,736 over the last 90 days. 18.19% of the stock is owned by insiders.

About CarGurus

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate pricing and vehicle details, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital advertising and marketing products designed to help them display inventory and reach prospective buyers.

The company also provides tools and services intended to support automotive retailers throughout the vehicle-shopping process, including inventory merchandising, lead generation, pricing insights and digital retail capabilities.

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