Russell Investments Group Ltd. Purchases 84,682 Shares of CarGurus, Inc. $CARG

Key Points

• Russell Investments Group Ltd. increased its holdings in CarGurus, Inc. by 80.9% during the first quarter, now owning 189,342 shares valued at approximately $5.5 million.
• CarGurus reported a Q2 earnings per share (EPS) of $0.57, exceeding expectations of $0.54, alongside a 7.0% year-over-year revenue growth to $234.03 million.
• Analysts' ratings for CarGurus show a consensus of six "Buy" ratings and seven "Hold" ratings, with an average price target of approximately $38.13.

Russell Investments Group Ltd. grew its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 80.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 189,342 shares of the company's stock after purchasing an additional 84,682 shares during the quarter. Russell Investments Group Ltd. owned 0.18% of CarGurus worth $5,505,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Public Sector Pension Investment Board increased its position in shares of CarGurus by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 278,928 shares of the company's stock worth $8,125,000 after acquiring an additional 59,792 shares during the last quarter. Nuveen LLC purchased a new stake in shares of CarGurus during the first quarter worth about $21,884,000. Invesco Ltd. increased its position in shares of CarGurus by 340.5% during the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after acquiring an additional 1,242,076 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of CarGurus during the first quarter worth about $207,000. Finally, Vanguard Group Inc. increased its position in shares of CarGurus by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock worth $284,909,000 after acquiring an additional 93,722 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Trading Up 0.4%

CarGurus stock traded up $0.14 during midday trading on Wednesday, hitting $34.26. The stock had a trading volume of 910,687 shares, compared to its average volume of 1,239,555. The stock has a market cap of $3.40 billion, a P/E ratio of 27.85, a P/E/G ratio of 1.62 and a beta of 1.42. CarGurus, Inc. has a 12 month low of $24.65 and a 12 month high of $41.33. The business has a fifty day moving average price of $32.90 and a 200 day moving average price of $31.60.

CarGurus (NASDAQ:CARG - Get Free Report) last announced 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. The firm had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.CarGurus's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CARG. Gordon Haskett began coverage on CarGurus in a research report on Monday, July 14th. They set a "hold" rating and a $35.00 target price on the stock. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a research 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 research 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 research report on Wednesday, July 2nd. Finally, Citigroup dropped their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research report on Thursday, July 3rd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $38.13.

Insider Buying and Selling

In other news, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $215,390.00. Following the completion of the sale, the general counsel owned 92,807 shares in the company, valued at approximately $3,248,245. This represents a 6.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total transaction of $338,800.00. Following the sale, the chief operating officer directly owned 461,821 shares in the company, valued at approximately $15,646,495.48. This trade represents a 2.12% 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 valued at $1,616,397 over the last 90 days. 16.99% of the stock is owned by corporate insiders.

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.