CarGurus, Inc. $CARG Shares Bought by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC significantly increased its stake in CarGurus, Inc. by 185.2%, now owning 835,244 shares valued at approximately $24.31 million.
• CarGurus reported a quarterly earnings per share (EPS) of $0.57, surpassing analysts' expectations, along with a revenue of $234.03 million, representing a 7.0% increase compared to the previous year.
• Analysts have a mixed outlook on CarGurus, with some raising target prices, while others have downgraded their ratings, resulting in a consensus rating of "Hold" and an average target price of $38.46.

Acadian Asset Management LLC lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 185.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 835,244 shares of the company's stock after buying an additional 542,382 shares during the quarter. Acadian Asset Management LLC owned approximately 0.80% of CarGurus worth $24,314,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of CarGurus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after purchasing an additional 10,787 shares during the period. Vanguard Group Inc. raised its holdings in shares of CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock worth $284,909,000 after purchasing an additional 93,722 shares during the period. GAMMA Investing LLC raised its holdings in shares of CarGurus by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after buying an additional 1,097 shares during the period. Bosman Wealth Management LLC acquired a new stake in CarGurus during the 1st quarter valued at approximately $2,638,000. Finally, Jupiter Asset Management Ltd. acquired a new position in shares of CarGurus in the 1st quarter worth approximately $468,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Trading Down 0.2%

Shares of CARG traded down $0.07 on Tuesday, reaching $36.12. The company's stock had a trading volume of 222,621 shares, compared to its average volume of 1,045,354. The stock has a market capitalization of $3.59 billion, a PE ratio of 29.34, a PEG ratio of 1.71 and a beta of 1.54. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33. The firm has a fifty day moving average of $33.54 and a 200-day moving average of $31.49.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million during the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The company's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, equities analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Wall Street Zen cut CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Citigroup decreased their price target on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Needham & Company LLC increased their price target on CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Finally, Oppenheimer dropped their price target on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $38.46.

Insiders Place Their Bets

In other news, CTO Matthew Todd Quinn sold 3,789 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 in the company, valued at $7,176,459.93. This represents a 1.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total transaction of $338,800.00. Following the sale, the chief operating officer owned 461,821 shares in the company, valued at $15,646,495.48. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,538 shares of company stock valued at $1,067,077. Insiders own 16.99% of the company's stock.

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.