Cetera Investment Advisers Makes New $996,000 Investment in CarGurus, Inc. $CARG

Cetera Investment Advisers acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the second quarter, Holdings Channel reports. The institutional investor acquired 29,753 shares of the company’s stock, valued at approximately $996,000.

Several other large investors have also added to or reduced their stakes in CARG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in CarGurus in the second quarter valued at $27,000. Private Wealth Asset Management LLC acquired a new position in shares of CarGurus during the 2nd quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of CarGurus during the 1st quarter worth about $46,000. Fifth Third Bancorp grew 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 acquiring an additional 779 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of CarGurus by 30.7% in the second quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock valued at $68,000 after acquiring an additional 475 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

CARG has been the subject of several recent research reports. DA Davidson set a $37.50 price target on CarGurus in a research report on Monday, November 17th. Zacks Research cut CarGurus from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “hold (c+)” rating on shares of CarGurus in a report on Tuesday. Needham & Company LLC boosted their target price on shares of CarGurus from $39.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, August 8th. Finally, Citigroup upped their price target on shares of CarGurus from $37.00 to $41.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 28th. Four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.95.

CarGurus Trading Up 1.4%

Shares of NASDAQ CARG opened at $36.02 on Thursday. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33. The stock has a 50 day moving average of $35.43 and a 200-day moving average of $34.05. The company has a market capitalization of $3.44 billion, a P/E ratio of 24.50, a P/E/G ratio of 1.65 and a beta of 1.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The business had revenue of $238.70 million for the quarter, compared to analysts’ expectations of $234.57 million. During the same quarter in the prior year, the business earned $0.45 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. Analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Transactions at CarGurus

In related news, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total transaction of $368,726.24. Following the completion of the sale, the insider owned 54,807 shares of the company’s stock, valued at approximately $2,021,282.16. The trade was a 15.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $349,800.00. Following the completion of the transaction, the chief operating officer owned 410,259 shares in the company, valued at approximately $14,350,859.82. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 41,226 shares of company stock worth $1,471,482. 16.99% of the stock is owned by insiders.

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.