Dark Forest Capital Management LP Has $4.17 Million Stock Holdings in CarGurus, Inc. $CARG

Key Points

• Dark Forest Capital Management LP significantly increased its stake in CarGurus, acquiring 136,587 additional shares, raising its holdings by 2,048.4%, and now owns approximately 0.14% of the company valued at $4.17 million.
• Multiple institutional investors, including Vanguard Group and American Century Companies, have also boosted their positions in CarGurus, indicating strong institutional interest, with 86.90% of the stock currently owned by institutional investors.
• CarGurus' recent earnings report showed an EPS of $0.57, which surpassed the consensus estimate of $0.54, along with a revenue increase of 7.0% year-over-year to $234.03 million.

Dark Forest Capital Management LP lifted its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2,048.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 143,255 shares of the company's stock after buying an additional 136,587 shares during the period. Dark Forest Capital Management LP owned about 0.14% of CarGurus worth $4,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. US Bancorp DE boosted its position in shares of CarGurus by 14.6% in the first quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after buying an additional 475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of CarGurus by 0.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock worth $2,300,000 after buying an additional 483 shares during the period. Signaturefd LLC boosted its position in shares of CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after buying an additional 799 shares during the period. Blue Trust Inc. boosted its position in shares of CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock worth $73,000 after buying an additional 829 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of CarGurus by 35.4% in the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock worth $122,000 after buying an additional 1,097 shares during the period. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Javier Zamora sold 6,154 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the sale, the general counsel directly owned 92,807 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Also, insider Ismail Elshareef sold 1,325 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $46,375.00. Following the completion of the sale, the insider directly owned 104,322 shares in the company, valued at approximately $3,651,270. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,538 shares of company stock valued at $1,067,077 in the last quarter. Insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

CARG has been the subject of several recent analyst reports. Needham & Company LLC raised their target price on CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Citigroup cut their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. JMP Securities reiterated a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Oppenheimer cut their price objective on CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $38.46.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded down $0.03 during midday trading on Monday, hitting $36.14. The company's stock had a trading volume of 253,007 shares, compared to its average volume of 1,050,302. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 29.37, a PEG ratio of 1.71 and a beta of 1.54. The stock's 50 day simple moving average is $33.26 and its 200 day simple moving average is $31.29. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The firm's revenue was up 7.0% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, analysts anticipate that CarGurus, Inc. will post 1.41 EPS for the current year.

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.