CarGurus, Inc. $CARG Shares Sold by Bessemer Group Inc.

Key Points

• Bessemer Group Inc. reduced its CarGurus stake by 6.7% in the fourth quarter, selling 66,328 shares and ending with 918,107 shares worth about $35.2 million.
• CarGurus reported better-than-expected quarterly results, posting EPS of $0.58 versus $0.56 expected and revenue of $243.56 million, with revenue up 8.2% year over year.
• Shares fell 4.6% to $28.67 as analysts remained mixed: the stock has an average rating of “Hold” and an average price target of $38.23.

Bessemer Group Inc. cut its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 6.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 918,107 shares of the company's stock after selling 66,328 shares during the quarter. Bessemer Group Inc. owned approximately 0.96% of CarGurus worth $35,210,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CARG. Royal Bank of Canada lifted its stake in shares of CarGurus by 22.6% during the first quarter. Royal Bank of Canada now owns 75,072 shares of the company's stock valued at $2,186,000 after buying an additional 13,834 shares during the period. AQR Capital Management LLC lifted its stake in shares of CarGurus by 25.4% during the first quarter. AQR Capital Management LLC now owns 25,946 shares of the company's stock valued at $756,000 after buying an additional 5,259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of CarGurus by 3.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company's stock valued at $1,889,000 after buying an additional 1,890 shares during the period. Jane Street Group LLC lifted its stake in shares of CarGurus by 113.0% during the first quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock valued at $3,592,000 after buying an additional 65,420 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of CarGurus during the second quarter valued at approximately $87,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 5,445 shares of the stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total transaction of $179,902.80. Following the transaction, the chief marketing officer owned 134,369 shares of the company's stock, valued at $4,439,551.76. This trade represents a 3.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $35.61, for a total transaction of $88,989.39. Following the transaction, the insider directly owned 98,191 shares in the company, valued at approximately $3,496,581.51. This represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 12,852 shares of company stock worth $431,053. Company insiders own 16.99% of the company's stock.

CarGurus Stock Down 4.6%

NASDAQ:CARG opened at $28.67 on Friday. The company has a market cap of $2.59 billion, a P/E ratio of 18.86, a P/E/G ratio of 1.07 and a beta of 1.28. CarGurus, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $39.42. The firm's 50 day moving average is $34.57 and its two-hundred day moving average is $34.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.02. The company had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. CarGurus's revenue was up 8.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Research analysts forecast that CarGurus, Inc. will post 2.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CARG. Oppenheimer reduced their price objective on shares of CarGurus from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Wall Street Zen raised shares of CarGurus from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Weiss Ratings downgraded shares of CarGurus from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday. DA Davidson reduced their price objective on shares of CarGurus from $37.50 to $33.50 and set a "neutral" rating on the stock in a research note on Friday, February 20th. Finally, Royal Bank Of Canada upped their price objective on shares of CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $38.23.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company's core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.

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