CarGurus, Inc. $CARG Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC lessened its position in CarGurus, Inc. (NASDAQ:CARG) by 1.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 50,688 shares of the company’s stock after selling 988 shares during the period. MetLife Investment Management LLC’s holdings in CarGurus were worth $1,477,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC lifted its stake in shares of CarGurus by 31.3% in the 1st quarter. Campbell & CO Investment Adviser LLC now owns 44,327 shares of the company’s stock worth $1,291,000 after acquiring an additional 10,571 shares during the period. Capital Fund Management S.A. acquired a new stake in shares of CarGurus in the first quarter valued at about $1,537,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CarGurus in the first quarter valued at about $46,000. Wellington Management Group LLP lifted its stake in shares of CarGurus by 12.7% in the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company’s stock valued at $234,560,000 after purchasing an additional 906,830 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in shares of CarGurus by 3.9% in the first quarter. Raymond James Financial Inc. now owns 553,621 shares of the company’s stock valued at $16,127,000 after purchasing an additional 20,906 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CARG shares. UBS Group raised their price objective on shares of CarGurus from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Needham & Company LLC raised their price objective on shares of CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Oppenheimer reduced their price objective on shares of CarGurus from $42.00 to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, August 12th. Finally, JMP Securities reiterated a “market perform” rating and issued a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $38.13.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Zamora sold 6,154 shares of CarGurus stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $215,390.00. Following the completion of the transaction, the general counsel owned 92,807 shares in the company, valued at approximately $3,248,245. The trade was a 6.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $125,378.01. Following the sale, the chief technology officer owned 216,877 shares of the company’s stock, valued at approximately $7,176,459.93. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,538 shares of company stock valued at $1,067,077 in the last quarter. 17.20% of the stock is owned by corporate insiders.

CarGurus Trading Up 1.7%

Shares of CARG opened at $35.38 on Thursday. The stock has a market cap of $3.51 billion, a P/E ratio of 28.76, a PEG ratio of 1.64 and a beta of 1.54. The company has a 50-day moving average of $33.13 and a two-hundred day moving average of $31.43. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The company had revenue of $234.03 million during the quarter, compared to analysts’ expectations of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

CarGurus Profile

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.