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

CarGurus, Inc. (NASDAQ:CARG) CTO Matthew Todd Quinn sold 3,824 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total transaction of $133,954.72. Following the sale, the chief technology officer directly owned 233,146 shares of the company’s stock, valued at approximately $8,167,104.38. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

CarGurus Stock Performance

Shares of CARG opened at $34.92 on Wednesday. The stock has a 50 day moving average price of $31.28 and a two-hundred day moving average price of $33.02. The firm has a market capitalization of $3.15 billion, a P/E ratio of 22.97, a P/E/G ratio of 1.30 and a beta of 1.18. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm had revenue of $243.56 million during the quarter, compared to the consensus estimate of $243.10 million. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities analysts forecast that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on CARG. Piper Sandler reiterated a “sector weight” rating on shares of CarGurus in a research note on Friday, June 12th. Wall Street Zen raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, June 27th. Weiss Ratings cut shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Freedom Capital raised shares of CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. Finally, Needham & Company LLC increased 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 analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, CarGurus has an average rating of “Moderate Buy” and a consensus target price of $37.77.

Hedge Funds Weigh In On CarGurus

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new stake in CarGurus in the third quarter worth about $46,000. Torren Management LLC bought a new position in shares of CarGurus during the 4th quarter valued at approximately $49,000. EverSource Wealth Advisors LLC grew its position in shares of 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 acquiring an additional 1,362 shares during the period. Clearstead Advisors LLC increased its stake in shares of CarGurus by 321.2% during the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased 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 purchasing an additional 1,697 shares during the last quarter. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.