Walleye Capital LLC Sells 52,512 Shares of CarGurus, Inc. $CARG

Walleye Capital LLC lowered its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 20.1% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 208,232 shares of the company’s stock after selling 52,512 shares during the period. Walleye Capital LLC’s holdings in CarGurus were worth $7,090,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CARG. Horizon Investments LLC increased its stake in shares of CarGurus by 2.0% in the 4th quarter. Horizon Investments LLC now owns 16,375 shares of the company’s stock worth $628,000 after acquiring an additional 318 shares in the last quarter. ProShare Advisors LLC lifted its position in CarGurus by 2.8% during the 4th quarter. ProShare Advisors LLC now owns 15,992 shares of the company’s stock valued at $613,000 after acquiring an additional 436 shares during the period. Ritholtz Wealth Management boosted its stake in CarGurus by 4.2% during the first quarter. Ritholtz Wealth Management now owns 11,039 shares of the company’s stock worth $376,000 after acquiring an additional 449 shares in the last quarter. HighTower Advisors LLC boosted its stake in CarGurus by 7.8% during the fourth quarter. HighTower Advisors LLC now owns 7,094 shares of the company’s stock worth $272,000 after acquiring an additional 514 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in CarGurus by 1.6% during the fourth quarter. Illinois Municipal Retirement Fund now owns 43,583 shares of the company’s stock worth $1,671,000 after acquiring an additional 679 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

Insider Activity

In other news, insider Jennifer Ladd Hanson sold 2,499 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total transaction of $86,365.44. Following the sale, the insider owned 92,894 shares in the company, valued at $3,210,416.64. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 3,824 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The shares were 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 $8,167,104.38. This trade represents a 1.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,559 shares of company stock worth $841,568 over the last 90 days. 18.19% of the stock is currently owned by insiders.

CarGurus Price Performance

Shares of CarGurus stock opened at $33.67 on Thursday. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 1.28 and a beta of 1.18. The firm’s 50-day moving average is $31.09 and its 200 day moving average is $32.71. CarGurus, Inc. has a 1 year low of $26.39 and a 1 year high of $39.42.

CarGurus (NASDAQ:CARG) last released 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. The business had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. CarGurus’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities analysts expect that CarGurus, Inc. will post 2.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CARG. Piper Sandler reaffirmed a “sector weight” rating on shares of CarGurus in a research note on Friday, June 12th. Freedom Capital raised CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. Royal Bank Of Canada boosted their price target on CarGurus from $34.00 to $35.00 and gave the stock an “outperform” rating in a research report on Monday, May 11th. Citigroup assumed coverage on CarGurus in a research note on Friday, June 12th. They issued a “buy” rating on the stock. Finally, Needham & Company LLC raised their price objective on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and an average target price of $38.55.

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.