Voya Investment Management LLC Has $5.27 Million Stock Holdings in CarGurus, Inc. $CARG

Voya Investment Management LLC boosted its position in CarGurus, Inc. (NASDAQ:CARG) by 82.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 141,559 shares of the company’s stock after acquiring an additional 64,094 shares during the quarter. Voya Investment Management LLC owned 0.14% of CarGurus worth $5,270,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CARG. QRG Capital Management Inc. boosted its holdings in shares of CarGurus by 4.3% in the 2nd quarter. QRG Capital Management Inc. now owns 8,116 shares of the company’s stock valued at $272,000 after purchasing an additional 332 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of CarGurus by 8.7% during the 3rd quarter. GAMMA Investing LLC now owns 4,535 shares of the company’s stock worth $169,000 after buying an additional 363 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of CarGurus by 30.7% during the 2nd quarter. Parkside Financial Bank & Trust now owns 2,023 shares of the company’s stock worth $68,000 after buying an additional 475 shares during the last quarter. Summit Global Investments boosted its stake in CarGurus by 1.7% in the second quarter. Summit Global Investments now owns 33,305 shares of the company’s stock valued at $1,115,000 after buying an additional 570 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in CarGurus by 3.2% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,728 shares of the company’s stock valued at $727,000 after acquiring an additional 681 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

CarGurus Price Performance

Shares of NASDAQ CARG opened at $38.89 on Friday. The company has a 50 day simple moving average of $36.01 and a 200 day simple moving average of $34.72. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33. The firm has a market cap of $3.71 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 1.81 and a beta of 1.42.

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

Insider Buying and Selling

In other news, CEO Jason Trevisan sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $37.00, for a total transaction of $740,000.00. Following the completion of the transaction, the chief executive officer directly owned 655,483 shares in the company, valued at $24,252,871. This trade represents a 2.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the sale, the insider owned 54,807 shares in the company, valued at $2,021,282.16. The trade was a 15.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 51,226 shares of company stock valued at $1,850,682. Company insiders own 16.99% of the company’s stock.

Wall Street Analyst Weigh In

CARG has been the subject of a number of research reports. DA Davidson set a $37.50 target price on shares of CarGurus in a report on Monday, November 17th. UBS Group upped their price objective on shares of CarGurus from $36.00 to $40.00 and gave the stock a “neutral” rating in a research report on Monday, October 6th. JPMorgan Chase & Co. increased their price objective on shares of CarGurus from $38.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CarGurus in a research note on Monday. Finally, Zacks Research downgraded shares of CarGurus from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 16th. Five research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $40.41.

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.