JPMorgan Chase & Co. Boosts Stock Position in CarGurus, Inc. $CARG

JPMorgan Chase & Co. lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 17.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 545,636 shares of the company’s stock after acquiring an additional 82,511 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.55% of CarGurus worth $20,314,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D boosted its position in shares of CarGurus by 11.6% in the third quarter. State of New Jersey Common Pension Fund D now owns 66,058 shares of the company’s stock worth $2,459,000 after purchasing an additional 6,849 shares during the period. Public Sector Pension Investment Board raised its position in shares of CarGurus by 29.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 372,214 shares of the company’s stock valued at $13,858,000 after purchasing an additional 83,700 shares during the period. LSV Asset Management lifted its stake in shares of CarGurus by 20.9% during the 3rd quarter. LSV Asset Management now owns 72,200 shares of the company’s stock valued at $2,688,000 after buying an additional 12,500 shares in the last quarter. Versor Investments LP bought a new position in CarGurus in the 3rd quarter worth $901,000. Finally, Alps Advisors Inc. purchased a new stake in CarGurus in the 3rd quarter worth $471,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Price Performance

Shares of CARG opened at $31.31 on Tuesday. The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 20.20, a price-to-earnings-growth ratio of 1.15 and a beta of 1.37. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $39.42. The business’s 50 day simple moving average is $33.26 and its 200-day simple moving average is $34.81.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, February 19th. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. CarGurus had a net margin of 16.60% and a return on equity of 47.50%. The company had revenue of $209.09 million for the quarter, compared to analysts’ expectations of $239.07 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. CarGurus’s quarterly revenue was up 14.7% on a year-over-year basis. CarGurus has set its Q1 2026 guidance at 0.520-0.580 EPS. On average, sell-side analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Analyst Ratings Changes

CARG has been the topic of a number of recent analyst reports. Oppenheimer decreased their price target on CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a report on Tuesday, February 24th. Jefferies Financial Group lifted their target price on CarGurus from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. UBS Group set a $38.00 price target on CarGurus in a research note on Tuesday, February 24th. BTIG Research cut their price objective on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a report on Friday, February 20th. Finally, Needham & Company LLC lowered their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.14.

Insider Activity

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,358 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.10, for a total transaction of $89,839.80. Following the sale, the insider directly owned 50,466 shares in the company, valued at $1,922,754.60. This represents a 4.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jason Trevisan sold 16,548 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $39.02, for a total value of $645,702.96. Following the completion of the sale, the chief executive officer directly owned 630,483 shares of the company’s stock, valued at $24,601,446.66. The trade was a 2.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 49,003 shares of company stock worth $1,858,494. 17.20% of the stock is currently owned by corporate insiders.

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.