Dark Forest Capital Management LP Purchases 136,587 Shares of 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 raised its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2,048.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,255 shares of the company's stock after buying an additional 136,587 shares during the quarter. Dark Forest Capital Management LP owned 0.14% of CarGurus worth $4,173,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of CarGurus in the 1st quarter valued at about $46,000. Signaturefd LLC lifted its position in CarGurus by 83.9% in the first quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after purchasing an additional 799 shares during the period. Blue Trust Inc. lifted its holdings in shares of CarGurus by 49.8% during the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after acquiring an additional 829 shares during the period. Versant Capital Management Inc lifted its holdings in shares of CarGurus by 695.4% during the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after acquiring an additional 2,267 shares during the period. Finally, Bayforest Capital Ltd acquired a new stake in shares of CarGurus in the first quarter valued at $76,000. 86.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CARG. Oppenheimer lowered their price objective on CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Citigroup lowered their price objective on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research report on Thursday, July 3rd. Needham & Company LLC lifted their price objective on CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Citizens Jmp cut CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen cut CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $38.13.

CarGurus Trading Down 0.1%

Shares of NASDAQ:CARG traded down $0.02 during trading on Friday, hitting $36.16. 909,426 shares of the company's stock traded hands, compared to its average volume of 1,150,291. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $41.33. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.71 and a beta of 1.54. The company has a 50-day moving average price of $33.26 and a 200-day moving average price of $31.33.

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

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 3,789 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $125,378.01. Following the sale, the chief technology officer owned 216,877 shares in the company, valued at approximately $7,176,459.93. The trade was a 1.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total value of $338,800.00. Following the completion of the sale, the chief operating officer owned 461,821 shares in the company, valued at $15,646,495.48. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,538 shares of company stock worth $1,067,077 over the last three months. Company insiders own 16.99% of the company's stock.

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.