Insider Selling: CarGurus (NASDAQ:CARG) Insider Sells 9,998 Shares of Stock

Key Points

• Jennifer Ladd Hanson, an insider at CarGurus, sold 9,998 shares of stock at an average price of $36.88, marking a 15.43% decrease in their position.
• CarGurus reported a quarterly EPS of $0.57, surpassing analysts' expectations, with revenue growth of 7.0% year-over-year.
• 86.90% of CarGurus' stock is owned by institutional investors, with recent activity including significant stake acquisitions by multiple hedge funds.

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) insider Jennifer Ladd Hanson sold 9,998 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $36.88, for a total transaction of $368,726.24. Following the transaction, the insider directly owned 54,807 shares of the company's stock, valued at $2,021,282.16. The trade was a 15.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

CarGurus Price Performance

Shares of NASDAQ:CARG traded up $0.66 during mid-day trading on Thursday, reaching $38.21. 734,232 shares of the company were exchanged, compared to its average volume of 1,063,025. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 31.07, a P/E/G ratio of 1.76 and a beta of 1.52. The firm's 50-day simple moving average is $34.36 and its 200 day simple moving average is $31.98. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million during the quarter, compared to analysts' expectations of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company posted $0.41 EPS. 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 fiscal year.

Institutional Investors Weigh In On CarGurus

Hedge funds and other institutional investors have recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of CarGurus in the 2nd quarter valued at $27,000. Private Wealth Asset Management LLC acquired a new stake in shares of CarGurus in the 2nd quarter valued at $29,000. MAI Capital Management raised its holdings in shares of CarGurus by 661.0% in the 2nd quarter. MAI Capital Management now owns 1,172 shares of the company's stock valued at $39,000 after purchasing an additional 1,018 shares in the last quarter. Fifth Third Bancorp raised its holdings in shares of CarGurus by 121.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company's stock valued at $47,000 after purchasing an additional 779 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CarGurus in the 1st quarter valued at $46,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CARG shares. Wall Street Zen lowered shares of CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Oppenheimer reduced their target price on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Gordon Haskett started coverage on shares of CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 target price on the stock. JMP Securities reiterated a "market perform" rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Finally, BTIG Research reiterated a "buy" rating and set a $39.00 target price on shares of CarGurus in a report on Friday, September 5th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $38.46.

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.

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