Bosman Wealth Management LLC Reduces Stock Position in CarGurus, Inc. $CARG

Key Points

• Bosman Wealth Management LLC has significantly reduced its stake in CarGurus, Inc. by 65.7%, bringing its holdings down to 31,065 shares valued at approximately $1,040,000.
• COO Samuel Zales sold 10,000 shares of CarGurus stock, while CEO Zachary Emerson Hallowell sold 4,369 shares, indicating a trend of insider selling at the company.
• CarGurus' recent quarterly earnings report exceeded estimates, with an EPS of $0.57 compared to the forecast of $0.54, and revenue of $234.03 million.

Bosman Wealth Management LLC lowered its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 65.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,065 shares of the company's stock after selling 59,488 shares during the quarter. Bosman Wealth Management LLC's holdings in CarGurus were worth $1,040,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its holdings in CarGurus by 121.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company's stock valued at $47,000 after acquiring an additional 779 shares during the period. BI Asset Management Fondsmaeglerselskab A S bought a new stake in CarGurus during the 1st quarter valued at $46,000. Signaturefd LLC raised its position 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 in the last quarter. Blue Trust Inc. raised its position 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 in the last quarter. Finally, Versant Capital Management Inc raised its position 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 in the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $36.08, for a total transaction of $360,800.00. Following the transaction, the chief operating officer directly owned 441,821 shares of the company's stock, valued at $15,940,901.68. This represents a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $144,570.21. Following the transaction, the chief executive officer directly owned 121,584 shares in the company, valued at $4,023,214.56. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,538 shares of company stock worth $1,427,877 over the last ninety days. Corporate insiders own 17.20% of the company's stock.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of research analyst reports. Oppenheimer decreased their target price on CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. UBS Group lifted their target price on CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a research report on Friday, August 8th. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. JMP Securities reaffirmed a "market perform" rating and set a $38.00 target price on shares of CarGurus in a research report on Wednesday, July 2nd. Finally, BTIG Research reaffirmed a "buy" rating and set a $39.00 target price on shares of CarGurus in a research report on Friday, September 5th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, CarGurus has an average rating of "Hold" and a consensus target price of $38.46.

CarGurus Trading Down 0.1%

CARG opened at $37.45 on Tuesday. The firm has a market cap of $3.72 billion, a price-to-earnings ratio of 30.45, a PEG ratio of 1.78 and a beta of 1.54. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33. The stock has a fifty day moving average price of $34.21 and a 200-day moving average price of $31.90.

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

About CarGurus

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.

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