CarGurus, Inc. $CARG Shares Purchased by Clark Capital Management Group Inc.

Key Points

• Clark Capital Management Group Inc. increased its holdings in CarGurus, Inc. by 4.5%, acquiring an additional 7,302 shares in the first quarter, bringing their total to 170,022 shares valued at approximately $4.95 million.
• Wall Street analysts maintain a mixed outlook on CarGurus, with a consensus rating of "Hold" and a target price of $38.13, following a series of price adjustments from various firms.
• CarGurus reported a strong quarterly performance with earnings per share of $0.57, exceeding expectations, and a revenue of $234.03 million, representing a year-over-year increase of 7%.

Clark Capital Management Group Inc. lifted its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 4.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 170,022 shares of the company's stock after acquiring an additional 7,302 shares during the quarter. Clark Capital Management Group Inc. owned 0.16% of CarGurus worth $4,953,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Invesco Ltd. increased its holdings in CarGurus by 340.5% in the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after buying an additional 1,242,076 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. 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. Boston Partners increased its holdings in CarGurus by 1,641.2% in the first quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after buying an additional 828,099 shares during the last quarter. Finally, Nuveen LLC purchased a new position in CarGurus in the first quarter valued at $21,884,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Trading Down 0.9%

Shares of CARG traded down $0.34 during mid-day trading on Wednesday, hitting $35.50. 202,280 shares of the company's stock were exchanged, compared to its average volume of 1,050,202. 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 $3.52 billion, a P/E ratio of 28.82, a P/E/G ratio of 1.70 and a beta of 1.54. The business's 50 day moving average is $33.35 and its two-hundred day moving average is $31.35.

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.

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 shares were sold at an average price of $33.84, for a total transaction of $58,644.72. Following the completion of the transaction, the chief executive officer directly owned 117,045 shares of the company's stock, valued at approximately $3,960,802.80. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,538 shares of company stock valued at $1,067,077. Corporate insiders own 17.20% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on CARG. Citizens Jmp lowered 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. JMP Securities restated a "market perform" rating and issued a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. UBS Group upped their price objective on shares of CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Finally, Oppenheimer decreased their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $38.46.

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.