Nordea Investment Management AB Sells 42,039 Shares of CarGurus, Inc. $CARG

Nordea Investment Management AB trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG) by 12.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 307,178 shares of the company’s stock after selling 42,039 shares during the quarter. Nordea Investment Management AB’s holdings in CarGurus were worth $11,731,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. MAI Capital Management lifted its stake in CarGurus by 661.0% in the second quarter. MAI Capital Management now owns 1,172 shares of the company’s stock valued at $39,000 after buying an additional 1,018 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of CarGurus by 71.1% in the third quarter. Farther Finance Advisors LLC now owns 1,066 shares of the company’s stock valued at $40,000 after buying an additional 443 shares during the period. Brown Brothers Harriman & Co. bought a new stake in shares of CarGurus during the third quarter worth $46,000. First Horizon Corp acquired a new stake in shares of CarGurus during the third quarter worth $51,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of CarGurus by 491.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after acquiring an additional 1,362 shares during the period. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of CarGurus in a research note on Monday, December 29th. UBS Group set a $38.00 price target on CarGurus in a research note on Tuesday, February 24th. Royal Bank Of Canada reduced their price objective on CarGurus from $40.00 to $34.00 and set an “outperform” rating for the company in a research report on Friday, February 20th. DA Davidson decreased their price objective on CarGurus from $37.50 to $33.50 and set a “neutral” rating for the company in a report on Friday, February 20th. Finally, Needham & Company LLC dropped their target price on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research report on Thursday, February 5th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, CarGurus presently has a consensus rating of “Hold” and an average price target of $38.14.

Insider Activity at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,358 shares of the firm’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 value of $89,839.80. Following the completion of the transaction, the insider directly owned 50,466 shares in the company, valued at $1,922,754.60. This trade represents a 4.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ismail Elshareef sold 1,645 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $32.21, for a total value of $52,985.45. Following the transaction, the insider directly owned 91,822 shares in the company, valued at $2,957,586.62. This trade represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 17.20% of the stock is owned by company insiders.

CarGurus Trading Up 1.4%

CarGurus stock opened at $34.83 on Wednesday. The company has a market cap of $3.32 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.29 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 company has a fifty day simple moving average of $31.56 and a 200 day simple moving average of $34.70.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, February 19th. The company reported $0.63 EPS 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 firm had revenue of $209.09 million for the quarter, compared to analysts’ expectations of $239.07 million. During the same period in the previous year, the firm posted $0.55 EPS. The company’s revenue for the quarter 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, equities research analysts forecast that CarGurus, Inc. will post 1.41 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.