Cetera Investment Advisers Invests $996,000 in CarGurus, Inc. $CARG

Cetera Investment Advisers acquired 29,753 shares of CarGurus, Inc. valued at $996,000 in Q2. Other institutional investors also adjusted their positions in CarGurus. Insider transactions included sales by Ismail Elshareef and Jennifer Ladd Hanson. Analysts have mixed ratings on CarGurus, with a consensus target price of $39.95. CarGurus' stock opened at $36.02, with a market cap of $3.44 billion and a recent earnings report showing $0.57 EPS, surpassing estimates.

Cetera Investment Advisers bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 29,753 shares of the company's stock, valued at approximately $996,000.

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A number of other institutional investors have also made changes to their positions in CARG. Intech Investment Management LLC lifted its stake in shares of CarGurus by 50.0% during the first quarter. Intech Investment Management LLC now owns 67,246 shares of the company's stock valued at $1,959,000 after acquiring an additional 22,425 shares during the period. Nordea Investment Management AB raised its holdings in CarGurus by 6.7% during the 2nd quarter. Nordea Investment Management AB now owns 336,930 shares of the company's stock worth $11,247,000 after purchasing an additional 21,167 shares during the last quarter. Vanguard Group Inc. lifted its position in CarGurus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after purchasing an additional 93,722 shares during the period. Acadian Asset Management LLC lifted its position in CarGurus by 4.0% during the 2nd quarter. Acadian Asset Management LLC now owns 868,686 shares of the company's stock valued at $29,058,000 after purchasing an additional 33,442 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of CarGurus in the 2nd quarter valued at about $2,501,000. 86.90% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Ismail Elshareef sold 1,228 shares of the firm's stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $34.98, for a total transaction of $42,955.44. Following the sale, the insider directly owned 95,907 shares in the company, valued at $3,354,826.86. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total transaction of $368,726.24. Following the completion of the sale, the insider directly owned 54,807 shares in the company, valued at $2,021,282.16. This represents a 15.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 41,226 shares of company stock valued at $1,471,482. 16.99% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CarMax Is Firing on All Pistons as Growth Returns

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of CarGurus in a report on Tuesday. BTIG Research reissued a "buy" rating and issued a $39.00 price target on shares of CarGurus in a research note on Friday, September 5th. UBS Group lifted their price objective on CarGurus from $36.00 to $40.00 and gave the stock a "neutral" rating in a research note on Monday, October 6th. Finally, DA Davidson set a $37.50 price objective on CarGurus in a report on Monday, November 17th. Four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $39.95.

Check Out Our Latest Report on CARG

CarGurus Stock Up 1.4%

CarGurus Stock is Set for a Rally This Quarter, Above all Peers

Shares of CARG stock opened at $36.02 on Thursday. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The firm has a fifty day moving average of $35.43 and a 200-day moving average of $34.05. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. CarGurus had a return on equity of 41.31% and a net margin of 16.41%.The firm had revenue of $238.70 million for the quarter, compared to analyst estimates of $234.57 million. During the same period in the previous year, the company posted $0.45 earnings per share. The company's revenue for the quarter was up 3.2% on a year-over-year basis. CarGurus has set its FY 2025 guidance at 2.190-2.250 EPS and its Q4 2025 guidance at 0.610-0.670 EPS. Research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

About CarGurus

(Free Report)

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.

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