60,647 Shares in CarGurus, Inc. $CARG Acquired by OP Asset Management Ltd

OP Asset Management Ltd bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the 1st quarter, Holdings Channel reports. The institutional investor bought 60,647 shares of the company’s stock, valued at approximately $2,065,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Royal Bank of Canada boosted its holdings in shares of CarGurus by 22.6% in the first quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock valued at $2,186,000 after buying an additional 13,834 shares during the period. AQR Capital Management LLC raised its holdings in shares of CarGurus by 25.4% during the first quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock worth $756,000 after acquiring an additional 5,259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in CarGurus by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock valued at $1,889,000 after acquiring an additional 1,890 shares in the last quarter. Jane Street Group LLC lifted its position in CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after acquiring an additional 65,420 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in CarGurus in the 2nd quarter worth $87,000. Institutional investors own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC increased their target price on CarGurus from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, May 8th. UBS Group set a $35.00 price target on CarGurus in a report on Thursday, May 28th. Royal Bank Of Canada upped their price objective on CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Weiss Ratings downgraded CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Freedom Capital raised CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average target price of $37.79.

Insider Buying and Selling

In related news, General Counsel Javier Zamora sold 8,072 shares of the business’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $29.53, for a total transaction of $238,366.16. Following the transaction, the general counsel directly owned 103,061 shares in the company, valued at approximately $3,043,391.33. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Matthew Todd Quinn sold 4,341 shares of the company’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 directly owned 246,098 shares in the company, valued at $8,131,077.92. This trade represents 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. In the last 90 days, insiders sold 20,924 shares of company stock worth $669,419. 17.20% of the stock is owned by corporate insiders.

CarGurus Stock Performance

CARG opened at $33.03 on Monday. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $39.42. The firm has a market capitalization of $2.98 billion, a PE ratio of 21.73, a PEG ratio of 1.21 and a beta of 1.20. The business’s 50-day simple moving average is $31.58 and its 200 day simple moving average is $33.15.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results 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. 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 business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company earned $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, research analysts forecast that CarGurus, Inc. will post 2.11 earnings per share for the current year.

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.