CarGurus, Inc. $CARG Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 36.2% in the first quarter, Holdings Channel reports. The institutional investor owned 123,839 shares of the company’s stock after purchasing an additional 32,898 shares during the period. Allspring Global Investments Holdings LLC’s holdings in CarGurus were worth $4,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brown Brothers Harriman & Co. purchased a new stake in shares of CarGurus during the 3rd quarter worth approximately $46,000. Torren Management LLC acquired a new position in CarGurus in the fourth quarter valued at $49,000. EverSource Wealth Advisors LLC grew its holdings in shares of CarGurus by 491.7% during the second 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 grew its holdings in shares of CarGurus by 321.2% during the fourth quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of CarGurus by 356.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock worth $83,000 after purchasing an additional 1,697 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other CarGurus news, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total transaction of $133,954.72. Following the completion of the transaction, the chief technology officer owned 233,146 shares in the company, valued at approximately $8,167,104.38. The trade was a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,533 shares of the company’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $36.06, for a total transaction of $127,399.98. Following the completion of the sale, the general counsel directly owned 88,345 shares in the company, valued at $3,185,720.70. This trade represents a 3.85% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,559 shares of company stock worth $841,568 in the last three months. Corporate insiders own 18.19% of the company’s stock.

CarGurus Stock Performance

Shares of CARG stock opened at $33.37 on Friday. The stock has a fifty day moving average price of $31.24 and a 200 day moving average price of $32.68. The stock has a market cap of $3.01 billion, a PE ratio of 21.95, a P/E/G ratio of 1.20 and a beta of 1.18. CarGurus, Inc. has a 1 year low of $26.39 and a 1 year high of $39.42.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on CARG shares. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Freedom Capital upgraded CarGurus to a “strong-buy” rating in a research note on Friday, June 12th. Royal Bank Of Canada lifted their price target on CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Citigroup began coverage on CarGurus in a research note on Friday, June 12th. They issued a “buy” rating for the company. Finally, Needham & Company LLC increased their price objective on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and a consensus price target of $38.55.

CarGurus Profile

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.