Glenmede Trust Co. NA Lowers Position in CarGurus, Inc. $CARG

Glenmede Trust Co. NA lessened its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 13.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 406,707 shares of the company's stock after selling 60,517 shares during the quarter. Glenmede Trust Co. NA owned about 0.45% of CarGurus worth $13,848,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Royal Bank of Canada raised its stake in CarGurus by 22.6% in the first quarter. Royal Bank of Canada now owns 75,072 shares of the company's stock valued at $2,186,000 after purchasing an additional 13,834 shares in the last quarter. AQR Capital Management LLC grew its stake in CarGurus by 25.4% in the 1st quarter. AQR Capital Management LLC now owns 25,946 shares of the company's stock worth $756,000 after buying an additional 5,259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of CarGurus by 3.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company's stock worth $1,889,000 after buying an additional 1,890 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock worth $3,592,000 after buying an additional 65,420 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of CarGurus during the 2nd quarter valued at $87,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CARG shares. Royal Bank Of Canada increased their target price on CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a research note on Monday, May 11th. Weiss Ratings lowered CarGurus from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, May 13th. UBS Group set a $35.00 price objective on CarGurus in a report on Thursday, May 28th. Wall Street Zen upgraded CarGurus from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Finally, Freedom Capital raised CarGurus to a "strong-buy" rating in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, CarGurus currently has an average rating of "Moderate Buy" and a consensus target price of $38.55.

Insider Activity

In related news, General Counsel Javier Zamora sold 8,072 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $29.53, for a total transaction of $238,366.16. Following the completion of the sale, the general counsel directly owned 103,061 shares in the company, valued at $3,043,391.33. This represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the firm's stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $34.56, for a total value of $86,365.44. Following the transaction, the insider owned 92,894 shares in the company, valued at approximately $3,210,416.64. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 25,559 shares of company stock valued at $841,568. 18.19% of the stock is currently owned by insiders.

CarGurus Stock Performance

Shares of CarGurus stock opened at $36.24 on Monday. CarGurus, Inc. has a 52-week low of $26.39 and a 52-week high of $39.42. The company has a fifty day moving average of $32.03 and a 200-day moving average of $32.56. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 1.32 and a beta of 1.17.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.58 EPS 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 analysts' expectations of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The firm's revenue was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities research analysts forecast that CarGurus, Inc. will post 2.11 earnings per share for the current fiscal year.

CarGurus Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.