Bessemer Group Inc. Cuts Stock Position in CarGurus, Inc. $CARG

Bessemer Group Inc. lessened its holdings in CarGurus, Inc. (NASDAQ:CARG) by 6.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 918,107 shares of the company’s stock after selling 66,328 shares during the quarter. Bessemer Group Inc.’s holdings in CarGurus were worth $35,210,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in CARG. Brown Brothers Harriman & Co. purchased a new position in shares of CarGurus in the 3rd quarter valued at $46,000. Torren Management LLC acquired a new stake in CarGurus during the 4th quarter valued at $49,000. First Horizon Corp acquired a new stake in CarGurus during the 3rd quarter valued at $51,000. EverSource Wealth Advisors LLC grew 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 valued at $55,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in CarGurus by 20.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,864 shares of the company’s stock valued at $69,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of recent analyst reports. DA Davidson lowered their price target on shares of CarGurus from $37.50 to $33.50 and set a “neutral” rating for the company in a report on Friday, February 20th. Oppenheimer lowered their price target 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. Needham & Company LLC raised their price target on shares of CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on shares of CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Finally, Royal Bank Of Canada raised their price target on shares of CarGurus from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.23.

CarGurus Price Performance

Shares of CARG stock opened at $28.67 on Friday. The firm has a market cap of $2.59 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.07 and a beta of 1.28. CarGurus, Inc. has a 1-year low of $26.39 and a 1-year high of $39.42. The firm has a fifty day moving average of $34.57 and a two-hundred day moving average of $34.45.

CarGurus (NASDAQ:CARG) last announced 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 company had revenue of $243.56 million during 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%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, sell-side analysts expect that CarGurus, Inc. will post 2.06 EPS for the current year.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 5,445 shares of the firm’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total transaction of $179,902.80. Following the completion of the transaction, the chief marketing officer directly owned 134,369 shares of the company’s stock, valued at $4,439,551.76. This trade represents a 3.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Kaufer acquired 30,766 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were bought at an average cost of $32.50 per share, with a total value of $999,895.00. Following the completion of the acquisition, the director owned 323,939 shares in the company, valued at $10,528,017.50. This represents a 10.49% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 12,852 shares of company stock valued at $431,053 in the last 90 days. 16.99% of the stock is currently owned by insiders.

CarGurus Company 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.