Capital Fund Management S.A. Acquires New Position in CarGurus, Inc. $CARG

Key Points

• Capital Fund Management S.A. has acquired a new stake in CarGurus, Inc., purchasing 52,775 shares valued at approximately $1.54 million.
• Multiple institutional investors have also increased their holdings in CarGurus, with Invesco Ltd. and American Century Companies Inc. raising their stakes significantly by 340.5% and 547.9% respectively during the 1st quarter.
• CarGurus reported a quarterly EPS of $0.57, surpassing estimates, while revenue grew 7% year-over-year, indicating a solid performance amidst changing market conditions.

Capital Fund Management S.A. bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 52,775 shares of the company's stock, valued at approximately $1,537,000. Capital Fund Management S.A. owned about 0.05% of CarGurus at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. BI Asset Management Fondsmaeglerselskab A S purchased a new position in CarGurus in the first quarter valued at $46,000. Wellington Management Group LLP increased its holdings in CarGurus by 12.7% in the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after buying an additional 906,830 shares during the last quarter. Raymond James Financial Inc. increased its holdings in CarGurus by 3.9% in the first quarter. Raymond James Financial Inc. now owns 553,621 shares of the company's stock valued at $16,127,000 after buying an additional 20,906 shares during the last quarter. American Century Companies Inc. increased its holdings in CarGurus by 547.9% in the first quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after buying an additional 1,182,499 shares during the last quarter. Finally, Ethic Inc. increased its holdings in CarGurus by 29.6% in the first quarter. Ethic Inc. now owns 20,321 shares of the company's stock valued at $594,000 after buying an additional 4,645 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Trading Up 0.6%

Shares of CARG traded up $0.22 during mid-day trading on Friday, hitting $34.60. 934,185 shares of the company's stock were exchanged, compared to its average volume of 1,056,401. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The firm has a market capitalization of $3.43 billion, a P/E ratio of 28.13, a P/E/G ratio of 1.62 and a beta of 1.42. The business's 50 day moving average is $32.95 and its two-hundred day moving average is $31.56.

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 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 business had revenue of $234.03 million during the quarter, compared to the consensus estimate of $232.29 million. During the same quarter in the prior year, the firm earned $0.41 earnings per share. The business's quarterly revenue 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 earnings per share for the current year.

Analyst Ratings Changes

CARG has been the topic of several recent analyst reports. Needham & Company LLC increased their target price on CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 8th. UBS Group increased their target price on CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a report on Friday, August 8th. Citigroup dropped their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Oppenheimer dropped their price objective on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Finally, JMP Securities reaffirmed a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a report on Wednesday, July 2nd. Six equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $38.13.

Insider Buying and Selling at CarGurus

In other news, CTO Matthew Todd Quinn sold 3,789 shares of the stock in a transaction dated 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 owned 216,877 shares in the company, valued at approximately $7,176,459.93. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.84, for a total transaction of $58,644.72. Following the sale, the chief executive officer owned 117,045 shares of the company's stock, valued at $3,960,802.80. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,049 shares of company stock valued at $1,616,397. Corporate insiders own 16.99% of the company's stock.

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.