Raymond James Financial Inc. Has $16.13 Million Position in CarGurus, Inc. $CARG

Key Points

• Raymond James Financial Inc. increased its stake in CarGurus by 3.9%, now owning approximately 553,621 shares valued at $16.1 million.
• CarGurus reported Q2 earnings of $0.57 per share, surpassing estimates, with revenue up 7.0% year-over-year at $234.03 million.
• Hedge funds own 86.90% of CarGurus stock, indicating strong institutional interest in the company.

Raymond James Financial Inc. raised its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 553,621 shares of the company's stock after buying an additional 20,906 shares during the quarter. Raymond James Financial Inc. owned 0.53% of CarGurus worth $16,127,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in CarGurus by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after buying an additional 93,722 shares in the last quarter. Invesco Ltd. increased its holdings in shares of CarGurus by 340.5% in the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after purchasing an additional 1,242,076 shares during the period. American Century Companies Inc. increased its holdings in shares of CarGurus by 547.9% in the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after purchasing an additional 1,182,499 shares during the period. Prevatt Capital Ltd increased its holdings in shares of CarGurus by 9.8% in the 4th quarter. Prevatt Capital Ltd now owns 1,350,000 shares of the company's stock valued at $49,329,000 after purchasing an additional 120,000 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of CarGurus by 5.5% in the 4th quarter. Northern Trust Corp now owns 942,535 shares of the company's stock valued at $34,440,000 after purchasing an additional 49,511 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of research reports. Needham & Company LLC upped 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. Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Gordon Haskett initiated coverage on CarGurus in a report on Monday, July 14th. They issued a "hold" rating and a $35.00 target price on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 target price on shares of CarGurus in a report on Monday, May 12th. Finally, Citigroup cut their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Six 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 an average rating of "Hold" and a consensus price target of $38.13.

Insider Buying and Selling

In related news, General Counsel Javier Zamora sold 6,154 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the transaction, the general counsel directly owned 92,807 shares of the company's stock, valued at $3,248,245. This trade represents a 6.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,789 shares of the firm's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $125,378.01. Following the completion of the transaction, the chief technology officer directly owned 216,877 shares of the company's stock, valued at approximately $7,176,459.93. This trade represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,049 shares of company stock valued at $1,616,397 in the last ninety days. Company insiders own 17.20% of the company's stock.

CarGurus Trading Down 0.1%

CarGurus stock traded down $0.03 during trading hours on Tuesday, reaching $34.57. 435,231 shares of the company were exchanged, compared to its average volume of 1,052,497. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 1.64 and a beta of 1.54. The stock has a 50-day moving average of $33.04 and a 200 day moving average of $31.38.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, beating 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 company had revenue of $234.03 million during the quarter, compared to analysts' expectations of $232.29 million. During the same period in the prior year, the business earned $0.41 earnings per share. CarGurus'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. As a group, research analysts forecast that CarGurus, Inc. will post 1.41 EPS 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.