Westover Capital Advisors LLC Invests $1.91 Million in CarGurus, Inc. $CARG

Westover Capital Advisors LLC bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,858 shares of the company’s stock, valued at approximately $1,912,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of CarGurus by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company’s stock worth $20,314,000 after acquiring an additional 82,511 shares during the last quarter. Jupiter Asset Management Ltd. grew its position in shares of CarGurus by 230.6% during the third quarter. Jupiter Asset Management Ltd. now owns 580,117 shares of the company’s stock worth $21,598,000 after acquiring an additional 404,617 shares during the last quarter. Aurora Investment Counsel purchased a new position in shares of CarGurus during the third quarter worth approximately $2,174,000. Envestnet Asset Management Inc. grew its position in shares of CarGurus by 100.3% during the third quarter. Envestnet Asset Management Inc. now owns 102,818 shares of the company’s stock worth $3,828,000 after acquiring an additional 51,487 shares during the last quarter. Finally, Congress Asset Management Co. grew its position in shares of CarGurus by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock worth $75,095,000 after acquiring an additional 54,937 shares during the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings lowered shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. BTIG Research lowered their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Royal Bank Of Canada raised their target price on shares of CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Finally, DA Davidson lowered their price objective on shares of CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research report on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $38.23.

Insiders Place Their Bets

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the sale, the insider directly owned 98,191 shares in the company, valued at approximately $3,496,581.51. The trade was a 2.48% decrease in their position. The sale was disclosed in a document filed 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. Also, CTO Matthew Todd Quinn sold 4,341 shares of the business’s stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $33.04, for a total transaction of $143,426.64. Following the sale, the chief technology officer owned 246,098 shares in the company, valued at $8,131,077.92. The trade was a 1.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,852 shares of company stock worth $431,053 over the last quarter. 16.99% of the stock is owned by company insiders.

CarGurus Stock Performance

Shares of CARG opened at $28.24 on Monday. CarGurus, Inc. has a twelve month low of $26.39 and a twelve month high of $39.42. The stock’s 50 day moving average is $34.09 and its two-hundred day moving average is $34.20. The firm has a market capitalization of $2.55 billion, a PE ratio of 18.58, a P/E/G ratio of 1.05 and a beta of 1.28.

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

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.