American Century Companies Inc. Acquires 1,182,499 Shares of CarGurus, Inc. $CARG

Key Points

• American Century Companies Inc. significantly increased its stake in CarGurus, purchasing an additional 1,182,499 shares, which raised its ownership by 547.9% to approximately 1.34% of the company, valued at $40.7 million.
• Insider sales included CTO Matthew Todd Quinn selling 3,789 shares and COO Samuel Zales selling 10,000 shares, both indicating a decrease in their respective ownership shares.
• CarGurus reported $234.03 million in revenue for the last quarter, beating analyst estimates and representing a 7.0% increase compared to the previous year.

American Century Companies Inc. lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 547.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,398,341 shares of the company's stock after purchasing an additional 1,182,499 shares during the period. American Century Companies Inc. owned 1.34% of CarGurus worth $40,734,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GeoWealth Management LLC bought a new stake in shares of CarGurus during the 4th quarter worth approximately $49,000. Signaturefd LLC lifted its holdings in CarGurus by 83.9% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after purchasing an additional 799 shares during the last quarter. Blue Trust Inc. lifted its holdings in CarGurus by 49.8% during the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after purchasing an additional 829 shares during the last quarter. Versant Capital Management Inc lifted its holdings in CarGurus by 695.4% during the 1st quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after purchasing an additional 2,267 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after purchasing an additional 543 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CARG. Gordon Haskett began coverage on CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 price target for the company. Needham & Company LLC boosted their target price on shares of CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Citigroup reduced their target price on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. JMP Securities reissued a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a research report on Wednesday, July 2nd. Finally, UBS Group boosted their target price on shares of CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, CarGurus has an average rating of "Hold" and an average price target of $38.13.

Insider Activity at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,369 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $144,570.21. Following the completion of the sale, the chief executive officer owned 121,584 shares in the company, valued at $4,023,214.56. This trade represents a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ismail Elshareef sold 5,246 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total transaction of $164,567.02. Following the sale, the insider owned 107,007 shares of the company's stock, valued at approximately $3,356,809.59. This represents a 4.67% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,049 shares of company stock worth $1,616,397. Corporate insiders own 16.99% of the company's stock.

CarGurus Price Performance

Shares of CarGurus stock traded down $0.05 during trading on Monday, hitting $34.13. 798,714 shares of the company's stock traded hands, compared to its average volume of 1,050,136. The company has a market cap of $3.39 billion, a PE ratio of 27.73, a PEG ratio of 1.62 and a beta of 1.42. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33. The firm's fifty day moving average price is $32.73 and its 200 day moving average price is $31.60.

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

CarGurus Company 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.