CARG CarGurus

Voya Investment Management LLC significantly increased its stake in CarGurus, Inc. (NASDAQ:CARG) by 82.7% in Q3, bringing its total holdings to 141,559 shares valued at $5.27 million. Institutional investors now own approximately 86.9% of the company's stock. Despite notable insider selling, CarGurus exceeded Q3 earnings expectations and analysts currently maintain a consensus "Hold" rating with a price target of $40.41.

Congress Asset Management Co. has acquired a new stake of over 1.9 million shares in CarGurus, valued at approximately $70.86 million, making them a significant institutional holder. This move comes as company insiders, including CEO Jason Trevisan, have been selling shares, and CarGurus reported strong Q3 earnings, beating analyst estimates for both EPS and revenue. The company also provided optimistic guidance for FY2025 and Q4 2025, with analysts currently rating the stock as a "Hold" with an average target price of $40.41.

CarGurus, Inc. (NASDAQ:CARG) has received an average "Hold" rating from analysts, with a mean 12-month price target of $40.41, despite some recent target increases from firms like Jefferies and JPMorgan. The company exceeded Q3 earnings expectations with $0.57 EPS and $238.7 million in revenue, and provided optimistic guidance for FY2025 and Q4. Insider selling has occurred, but institutional ownership remains high at 86.9%.

Thrivent Financial for Lutherans has significantly reduced its stake in CarGurus, Inc. (NASDAQ:CARG) by selling 288,241 shares, representing a 33.7% decrease in its holdings. The firm now owns 568,193 shares valued at approximately $19.0 million. This move comes amidst insider selling and a consensus "Hold" rating from analysts, even as CarGurus recently surpassed quarterly EPS expectations.

Norges Bank recently acquired a significant stake in CarGurus, Inc. (NASDAQ: CARG), purchasing 69,461 shares valued at approximately $2.33 million. This investment comes as CarGurus exceeded its Q2 earnings estimates with strong revenue and EPS, while also providing positive FY2025 guidance. Despite recent insider sales totaling $2.21 million, institutional ownership of CarGurus remains high at 86.90%.

CarGurus, Inc. has introduced PriceVantage, a real-time pricing solution for used vehicles that uses extensive consumer demand data to help dealers optimize pricing and increase profitability. This AI-powered tool provides tailored predictive pricing guidance, enabling faster vehicle sales and improved turn times. Early adopters have reported significant operational enhancements, including five times faster turn times and a 71% increase in daily shopper connections, reinforcing PriceVantage's role in CarGurus' suite of dealer solutions.