Janus Henderson Group PLC Raises Holdings in CarGurus, Inc. $CARG

Janus Henderson Group PLC grew its holdings in CarGurus, Inc. (NASDAQ:CARG) by 8.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 229,225 shares of the company’s stock after buying an additional 17,139 shares during the quarter. Janus Henderson Group PLC’s holdings in CarGurus were worth $7,805,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Convergence Investment Partners LLC acquired a new position in shares of CarGurus during the 4th quarter worth $3,742,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of CarGurus in the fourth quarter valued at about $2,113,000. Louisiana State Employees Retirement System acquired a new stake in shares of CarGurus in the first quarter valued at about $1,226,000. Westover Capital Advisors LLC purchased a new stake in CarGurus during the fourth quarter worth about $1,912,000. Finally, Robeco Institutional Asset Management B.V. grew its position in CarGurus by 21.2% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 295,773 shares of the company’s stock worth $11,343,000 after buying an additional 51,758 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $36.41 on Thursday. The firm’s 50-day moving average is $32.54 and its two-hundred day moving average is $32.59. The company has a market capitalization of $3.28 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. CarGurus, Inc. has a 12-month low of $26.39 and a 12-month high of $39.42.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The business had revenue of $243.56 million during the quarter, compared to analysts’ expectations of $243.10 million. During the same period last year, the company posted $0.46 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup started coverage on shares of CarGurus in a report on Friday, June 12th. They issued a “buy” rating for the company. Freedom Capital upgraded CarGurus to a “strong-buy” rating in a report on Friday, June 12th. UBS Group set a $35.00 price objective on CarGurus in a research note on Thursday, May 28th. Piper Sandler reaffirmed a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. Finally, Royal Bank Of Canada boosted their target price on CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $38.55.

Insiders Place Their Bets

In related news, insider Jennifer Ladd Hanson sold 2,499 shares of CarGurus stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total transaction of $86,365.44. Following the completion of the sale, the insider owned 92,894 shares in the company, valued at approximately $3,210,416.64. This trade represents a 2.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 3,824 shares of the business’s 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 directly owned 233,146 shares of the company’s stock, valued at $8,167,104.38. The trade was a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 31,764 shares of company stock valued at $1,071,649. Corporate insiders own 18.19% of the company’s stock.

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.