Arrowstreet Capital Limited Partnership Sells 107,245 Shares of CarGurus, Inc. $CARG

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 6.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,477,445 shares of the company's stock after selling 107,245 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.55% of CarGurus worth $50,307,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CARG. Brown Brothers Harriman & Co. acquired a new position in shares of CarGurus during the 3rd quarter valued at about $46,000. Torren Management LLC bought a new position in shares of CarGurus in the 4th quarter valued at approximately $49,000. EverSource Wealth Advisors LLC lifted its holdings in CarGurus by 491.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company's stock worth $55,000 after purchasing an additional 1,362 shares during the last quarter. Clearstead Advisors LLC lifted its holdings in CarGurus by 321.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company's stock worth $82,000 after purchasing an additional 1,622 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in CarGurus by 356.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company's stock worth $83,000 after purchasing an additional 1,697 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the transaction, the chief technology officer directly owned 233,146 shares of the company's stock, valued at $8,167,104.38. The trade was a 1.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,533 shares of the stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.06, for a total transaction of $127,399.98. Following the sale, the general counsel directly owned 88,345 shares in the company, valued at approximately $3,185,720.70. This represents a 3.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 25,559 shares of company stock worth $841,568. 18.19% of the stock is owned by corporate insiders.

CarGurus Stock Performance

Shares of CARG opened at $34.96 on Tuesday. The company has a 50-day simple moving average of $31.37 and a 200-day simple moving average of $32.62. The firm has a market capitalization of $3.15 billion, a P/E ratio of 23.00, a P/E/G ratio of 1.22 and a beta of 1.18. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $243.56 million for the quarter, compared to analyst estimates of $243.10 million. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.CarGurus's revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, equities analysts forecast that CarGurus, Inc. will post 2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on CARG shares. Royal Bank Of Canada increased their price target on CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, May 11th. Barclays boosted their price objective on shares of CarGurus from $35.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 21st. UBS Group set a $35.00 price objective on shares of CarGurus in a report on Thursday, May 28th. Citigroup began coverage on shares of CarGurus in a research note on Friday, June 12th. They issued a "buy" rating on the stock. Finally, Wall Street Zen upgraded shares of CarGurus from a "hold" rating to a "buy" rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $38.55.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company's core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.

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