Cubist Systematic Strategies LLC Sells 311,582 Shares of CarGurus, Inc. $CARG

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in CarGurus, Inc. by 82.7%, leaving them with 65,000 shares worth approximately $1.89 million.
• Institutional investors own 86.90% of CarGurus' stock, and several firms, including US Bancorp DE and Signaturefd LLC, have increased their holdings in the company recently.
• CarGurus reported $0.57 earnings per share for its latest quarter, exceeding estimates, and set Q3 2025 guidance between 0.500-0.580 EPS.

Cubist Systematic Strategies LLC lessened its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 82.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,000 shares of the company's stock after selling 311,582 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of CarGurus worth $1,893,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Royal Bank of Canada grew its stake in shares of CarGurus by 22.6% in the first quarter. Royal Bank of Canada now owns 75,072 shares of the company's stock worth $2,186,000 after acquiring an additional 13,834 shares during the last quarter. Prevatt Capital Ltd grew its stake in shares of CarGurus by 3.7% in the first quarter. Prevatt Capital Ltd now owns 1,400,000 shares of the company's stock worth $40,782,000 after acquiring an additional 50,000 shares during the last quarter. Vident Advisory LLC grew its stake in shares of CarGurus by 557.1% in the first quarter. Vident Advisory LLC now owns 134,250 shares of the company's stock worth $3,911,000 after acquiring an additional 113,819 shares during the last quarter. Trexquant Investment LP grew its stake in shares of CarGurus by 9.7% in the first quarter. Trexquant Investment LP now owns 316,377 shares of the company's stock worth $9,216,000 after acquiring an additional 28,100 shares during the last quarter. Finally, Eisler Capital Management Ltd. acquired a new stake in shares of CarGurus in the first quarter worth $5,055,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Analyst Upgrades and Downgrades

CARG has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on shares of CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Gordon Haskett initiated coverage on shares of CarGurus in a research note on Monday, July 14th. They issued a "hold" rating and a $35.00 price objective on the stock. Citigroup lowered their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a research note on Thursday, July 3rd. Wall Street Zen downgraded shares of CarGurus from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 5th. Finally, Oppenheimer decreased their price target on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $38.46.

Insider Activity at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of CarGurus stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $144,570.21. Following the transaction, the chief executive officer directly owned 121,584 shares of the company's stock, valued at approximately $4,023,214.56. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,538 shares of company stock valued at $1,067,077. Insiders own 16.99% of the company's stock.

CarGurus Stock Down 0.7%

CARG traded down $0.26 during trading on Friday, reaching $36.03. 661,179 shares of the company's stock were exchanged, compared to its average volume of 1,003,189. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33. The business has a 50 day moving average price of $33.48 and a 200 day moving average price of $31.45. The company has a market capitalization of $3.58 billion, a P/E ratio of 29.29, a PEG ratio of 1.72 and a beta of 1.54.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The business's revenue was up 7.0% compared to the same quarter last year. During the same quarter 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. As a group, research analysts forecast that CarGurus, Inc. will post 1.41 EPS for the current year.

CarGurus 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.