Assenagon Asset Management S.A. Sells 68,841 Shares of CarGurus, Inc. $CARG

Assenagon Asset Management S.A. decreased its position in CarGurus, Inc. (NASDAQ:CARG) by 30.7% during the 4th quarter, Holdings Channel reports. The firm owned 155,384 shares of the company’s stock after selling 68,841 shares during the period. Assenagon Asset Management S.A.’s holdings in CarGurus were worth $5,959,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in CarGurus by 6.6% during 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 last quarter. Prevatt Capital Ltd boosted its position in CarGurus by 28.1% during 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. The Manufacturers Life Insurance Company grew its holdings in CarGurus by 0.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock worth $64,093,000 after acquiring an additional 6,676 shares during the last quarter. Congress Asset Management Co. purchased a new position in shares of CarGurus in the third quarter valued at about $70,856,000. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of CarGurus by 11.1% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,888,766 shares of the company’s stock valued at $70,319,000 after acquiring an additional 188,856 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CARG. Oppenheimer dropped their target price on shares of CarGurus from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. BTIG Research reduced their price target on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Wall Street Zen lowered CarGurus from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. DA Davidson dropped their price objective on CarGurus from $37.50 to $33.50 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, UBS Group set a $38.00 price objective on CarGurus in a research report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, CarGurus presently has an average rating of “Hold” and an average price target of $38.14.

CarGurus Price Performance

CARG stock opened at $35.01 on Friday. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $39.42. The company has a market cap of $3.33 billion, a P/E ratio of 22.59, a PEG ratio of 1.31 and a beta of 1.37. The firm has a 50-day moving average of $31.61 and a 200 day moving average of $34.70.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 19th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. CarGurus had a return on equity of 47.50% and a net margin of 16.60%.The business had revenue of $209.09 million for the quarter, compared to analysts’ expectations of $239.07 million. During the same period in the previous year, the firm posted $0.55 EPS. The business’s revenue was up 14.7% on a year-over-year basis. CarGurus has set its Q1 2026 guidance at 0.520-0.580 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Activity

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,358 shares of the firm’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $38.10, for a total transaction of $89,839.80. Following the completion of the transaction, the insider owned 50,466 shares of the company’s stock, valued at approximately $1,922,754.60. This trade represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ismail Elshareef sold 1,645 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $32.21, for a total transaction of $52,985.45. Following the sale, the insider owned 91,822 shares in the company, valued at approximately $2,957,586.62. This trade represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. 16.99% of the stock is currently owned by company insiders.

About CarGurus

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.