OP Asset Management Ltd Makes New Investment in CarGurus, Inc. $CARG

OP Asset Management Ltd acquired a new stake in CarGurus, Inc. (NASDAQ:CARG) during the first quarter, according to its most recent filing with the SEC. The firm acquired 60,647 shares of the company’s stock, valued at approximately $2,065,000. OP Asset Management Ltd owned about 0.06% of CarGurus as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new position in shares of CarGurus during the third quarter valued at $46,000. Torren Management LLC acquired a new stake in CarGurus in the fourth quarter worth about $49,000. EverSource Wealth Advisors LLC raised its holdings in CarGurus by 491.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after purchasing an additional 1,362 shares during the last quarter. Clearstead Advisors LLC lifted its position in CarGurus by 321.2% during the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock valued at $82,000 after purchasing an additional 1,622 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in CarGurus by 356.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock valued at $83,000 after purchasing an additional 1,697 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Matthew Todd Quinn sold 4,341 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total value of $143,426.64. Following the completion of the transaction, the chief technology officer owned 246,098 shares of the company’s stock, valued at $8,131,077.92. The trade was a 1.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the completion of the sale, the insider owned 98,191 shares of the company’s stock, valued at approximately $3,496,581.51. This represents a 2.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 20,924 shares of company stock valued at $669,419. 17.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on CARG shares. Wall Street Zen upgraded shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday. Needham & Company LLC increased their price objective on shares of CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. Citigroup initiated coverage on shares of CarGurus in a research note on Friday, June 12th. They issued a “buy” rating on the stock. Piper Sandler reaffirmed a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. Finally, Weiss Ratings cut shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $37.79.

CarGurus Price Performance

Shares of CARG stock opened at $33.03 on Monday. The stock has a market cap of $2.98 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 1.21 and a beta of 1.20. The stock has a 50-day moving average of $31.58 and a 200-day moving average of $33.15. CarGurus, Inc. has a one year low of $26.39 and a one year high of $39.42.

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

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.