Boston Partners Buys 828,099 Shares of CarGurus, Inc. $CARG

Key Points

• Boston Partners significantly increased its stake in CarGurus, Inc., boosting its ownership by 1,641.2% to 878,556 shares worth approximately $25.36 million as of the end of the first quarter.
• Several institutional investors have made notable adjustments to their holdings in CarGurus, with Vanguard Group increasing its stake by 1.0% and Invesco Ltd. raising its stake by 340.5% during the same period.
• CarGurus reported a quarterly earnings per share of $0.57, exceeding analysts' expectations, and its revenue rose 7.0% year-over-year to $234.03 million.

Boston Partners lifted its stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 1,641.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 878,556 shares of the company's stock after purchasing an additional 828,099 shares during the period. Boston Partners owned 0.84% of CarGurus worth $25,363,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Summit Investment Advisors Inc. increased its holdings in shares of CarGurus by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock valued at $332,000 after purchasing an additional 423 shares in the last quarter. US Bancorp DE grew its holdings in CarGurus by 14.6% during the 1st quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after acquiring an additional 475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in CarGurus by 0.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock worth $2,300,000 after acquiring an additional 483 shares during the period. NewEdge Advisors LLC grew its holdings in CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock worth $99,000 after acquiring an additional 543 shares during the period. Finally, MetLife Investment Management LLC grew its holdings in CarGurus by 1.5% during the 4th quarter. MetLife Investment Management LLC now owns 51,676 shares of the company's stock worth $1,888,000 after acquiring an additional 747 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Oppenheimer lowered their target price on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. JMP Securities reaffirmed a "market perform" rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Citigroup lowered their target price on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, CarGurus currently has a consensus rating of "Hold" and a consensus price target of $38.13.

Insiders Place Their Bets

In related news, CEO Zachary Emerson Hallowell sold 1,733 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $33.84, for a total value of $58,644.72. Following the sale, the chief executive officer directly owned 117,045 shares of the company's stock, valued at approximately $3,960,802.80. The trade was a 1.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction 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 completion of the sale, the chief technology officer directly 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 disclosure for this sale can be found here. Insiders sold a total of 49,049 shares of company stock worth $1,616,397 in the last ninety days. 16.99% of the stock is owned by insiders.

CarGurus Trading Down 2.2%

Shares of CARG stock traded down $0.71 on Wednesday, hitting $31.74. The stock had a trading volume of 988,482 shares, compared to its average volume of 1,067,397. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33. The firm has a market cap of $3.15 billion, a P/E ratio of 25.80, a PEG ratio of 1.54 and a beta of 1.42. The company has a fifty day moving average price of $32.67 and a two-hundred day moving average price of $31.79.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $232.29 million. During the same quarter in the previous year, the business earned $0.41 EPS. The firm'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. On average, analysts expect that CarGurus, Inc. will post 1.41 earnings per share 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.