CarGurus, Inc. $CARG Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC reduced its stake in CarGurus, Inc. by 11.6% during the 1st quarter, now holding 111,484 shares valued at approximately $3.25 million.
• CarGurus reported $0.57 EPS for the last quarter, exceeding analyst expectations, with revenue up 7.0% year-over-year at $234.03 million.
• Institutional investors and hedge funds collectively own 86.90% of CarGurus, showcasing significant interest in the company among larger financial entities.

Algert Global LLC cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 111,484 shares of the company's stock after selling 14,570 shares during the period. Algert Global LLC owned approximately 0.11% of CarGurus worth $3,248,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of CarGurus by 2.3% during the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after acquiring an additional 10,787 shares during the last quarter. Vanguard Group Inc. increased its position in shares of CarGurus by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after acquiring an additional 93,722 shares during the last quarter. GAMMA Investing LLC increased its position in shares of CarGurus by 35.4% during the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after acquiring an additional 1,097 shares during the last quarter. Bosman Wealth Management LLC acquired a new stake in shares of CarGurus during the first quarter valued at about $2,638,000. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of CarGurus during the first quarter valued at about $468,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CARG has been the subject of a number of recent analyst reports. Oppenheimer dropped their price target on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada restated an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. UBS Group lifted their price objective on shares of CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Finally, Gordon Haskett assumed coverage on shares of CarGurus in a report on Monday, July 14th. They issued a "hold" rating and a $35.00 price objective for the company. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $38.13.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $125,378.01. Following the transaction, the chief technology officer directly owned 216,877 shares of the company's stock, valued at $7,176,459.93. The trade was a 1.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Javier Zamora sold 6,154 shares of CarGurus stock in a transaction on 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 directly owned 92,807 shares in the company, valued at $3,248,245. The trade was a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,049 shares of company stock worth $1,616,397. 16.99% of the stock is owned by insiders.

CarGurus Stock Up 1.7%

CarGurus stock traded up $0.5940 during trading on Monday, reaching $34.7740. The stock had a trading volume of 347,118 shares, compared to its average volume of 1,047,265. The stock has a market cap of $3.45 billion, a PE ratio of 28.28, a P/E/G ratio of 1.62 and a beta of 1.42. CarGurus, Inc. has a 52-week low of $24.65 and a 52-week high of $41.33. The business has a 50 day moving average price of $32.73 and a 200 day moving average price of $31.60.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.03. The business 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 quarter in the previous year, the firm earned $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities analysts predict 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.