Lazard Asset Management LLC Grows Stake in CarGurus, Inc. $CARG

Lazard Asset Management LLC grew its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 180.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 445,868 shares of the company’s stock after acquiring an additional 287,067 shares during the period. Lazard Asset Management LLC’s holdings in CarGurus were worth $15,182,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Brown Brothers Harriman & Co. purchased a new position in CarGurus in the third quarter valued at approximately $46,000. Torren Management LLC bought a new stake in shares of CarGurus in the fourth quarter valued at $49,000. EverSource Wealth Advisors LLC raised its stake in shares of CarGurus by 491.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock valued at $55,000 after buying an additional 1,362 shares during the period. Clearstead Advisors LLC lifted its position in shares of 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 buying an additional 1,622 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of CarGurus by 356.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock worth $83,000 after acquiring an additional 1,697 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

Shares of CARG opened at $37.07 on Thursday. The firm’s 50 day simple moving average is $31.71 and its 200 day simple moving average is $32.60. The company has a market capitalization of $3.34 billion, a P/E ratio of 24.39, a P/E/G ratio of 1.33 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 announced its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities analysts anticipate that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Insider Transactions at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of CarGurus stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total value of $86,365.44. Following the transaction, the insider directly owned 92,894 shares of the company’s stock, valued at $3,210,416.64. The trade was a 2.62% decrease in their position. The sale was disclosed in a document filed 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, CTO Matthew Todd Quinn sold 3,824 shares of the company’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total transaction of $133,954.72. Following the sale, the chief technology officer owned 233,146 shares of the company’s stock, valued at $8,167,104.38. This represents a 1.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 25,559 shares of company stock worth $841,568. Company insiders own 18.19% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Royal Bank Of Canada upped their price objective on shares of CarGurus from $34.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Citigroup assumed coverage on shares of CarGurus in a research note on Friday, June 12th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, June 27th. Finally, Needham & Company LLC lifted their price objective on shares of CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, CarGurus currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.55.

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.