CarGurus (NASDAQ:CARG) CTO Matthew Todd Quinn Sells 3,824 Shares of Company Stock

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Quinn sold 3,824 shares of the stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $29.62, for a total value of $113,266.88. Following the transaction, the chief technology officer owned 220,193 shares of the company’s stock, valued at $6,522,116.66. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded down $0.67 on Monday, hitting $29.35. The stock had a trading volume of 2,138,602 shares, compared to its average volume of 1,247,572. CarGurus, Inc. has a twelve month low of $26.39 and a twelve month high of $41.22. The firm’s 50 day moving average price is $34.80 and its 200-day moving average price is $33.61. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 1.07 and a beta of 1.22.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The business had revenue of $250.97 million during the quarter, compared to analysts’ expectations of $249.85 million. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 2.17 EPS for the current year.

Institutional Trading of CarGurus

Several hedge funds have recently modified their holdings of CARG. Lazard Asset Management LLC lifted its stake in shares of CarGurus by 180.8% during the first quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock valued at $15,182,000 after acquiring an additional 287,067 shares during the period. Bank of America Corp DE increased its position in CarGurus by 26.6% in the first quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock worth $19,965,000 after purchasing an additional 123,364 shares during the period. RFG Advisory LLC acquired a new stake in CarGurus in the second quarter worth about $1,421,000. Bank of New York Mellon Corp bought a new stake in CarGurus during the 2nd quarter worth about $15,631,000. Finally, Louisiana State Employees Retirement System bought a new stake in CarGurus during the 1st quarter worth about $1,226,000. 86.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CARG has been the subject of a number of research analyst reports. Royal Bank Of Canada lifted their target price on shares of CarGurus from $35.00 to $42.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Wall Street Zen lowered CarGurus from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays raised their price target on CarGurus from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, August 10th. UBS Group boosted their price objective on CarGurus from $37.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, B. Riley Financial restated a “buy” rating on shares of CarGurus in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.75.

CarGurus Company Profile

CarGurus, Inc is a digital automotive marketplace that connects consumers with dealerships and private sellers offering new and used vehicles. Its platform enables shoppers to search vehicle listings, compare prices and features, review dealership information, and evaluate vehicle deals using data-driven tools. CarGurus generates revenue primarily by providing automotive dealers with listing, advertising, and other digital marketing services.

The company also offers products designed to help dealers attract shoppers, manage vehicle listings, and support the online and in-person vehicle-buying process.