CarGurus, Inc. $CARG Stock Holdings Lessened by Great Lakes Advisors LLC

Key Points

• Great Lakes Advisors LLC reduced its stake in CarGurus, Inc. by 3.5%, resulting in ownership of approximately 0.25% of the company, worth about $7.7 million.
• Other institutional investors have significantly increased their positions in CarGurus, with Invesco Ltd. raising its stake by 340.5% and American Century Companies by 547.9% during the same period.
• CarGurus reported a 7% increase in quarterly revenue year-over-year, with earnings per share of $0.57, beating analysts' expectations of $0.54.

Great Lakes Advisors LLC trimmed its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 264,588 shares of the company's stock after selling 9,516 shares during the period. Great Lakes Advisors LLC owned 0.25% of CarGurus worth $7,707,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CARG. Vanguard Group Inc. increased its holdings in shares of CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock worth $284,909,000 after acquiring an additional 93,722 shares during the period. Wellington Management Group LLP increased its holdings in shares of CarGurus by 12.7% in the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock worth $234,560,000 after acquiring an additional 906,830 shares during the period. Invesco Ltd. increased its holdings in shares of CarGurus by 340.5% in the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after acquiring an additional 1,242,076 shares during the period. Prevatt Capital Ltd increased its holdings in shares of CarGurus by 3.7% in the 1st 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 period. Finally, American Century Companies Inc. increased its holdings in shares of CarGurus by 547.9% in the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock worth $40,734,000 after acquiring an additional 1,182,499 shares during the period. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated 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 transaction, the chief operating officer directly owned 461,821 shares in the company, valued at $15,646,495.48. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CMO Dafna Sarnoff sold 4,168 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $137,919.12. Following the completion of the transaction, the chief marketing officer owned 115,183 shares of the company's stock, valued at approximately $3,811,405.47. The trade was a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,538 shares of company stock worth $1,067,077. Company insiders own 17.20% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CARG. Needham & Company LLC increased their price objective on shares of CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Oppenheimer dropped their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Gordon Haskett began coverage on shares of CarGurus in a research report on Monday, July 14th. They issued a "hold" rating and a $35.00 target price for the company. Wall Street Zen lowered shares of CarGurus from a "strong-buy" rating to a "buy" rating in a research report on Friday, September 5th. Finally, Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. 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 a consensus price target of $38.46.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded up $0.27 during trading hours on Monday, hitting $36.30. 177,117 shares of the company's stock traded hands, compared to its average volume of 1,045,239. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $41.33. The company's fifty day simple moving average is $33.48 and its two-hundred day simple moving average is $31.46. The company has a market cap of $3.60 billion, a price-to-earnings ratio of 29.50, a price-to-earnings-growth ratio of 1.71 and a beta of 1.54.

CarGurus (NASDAQ:CARG - Get Free Report) last posted 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 net margin of 14.12% and a return on equity of 36.23%. The company had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. During the same quarter last year, the firm posted $0.41 EPS. The business'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 anticipate that CarGurus, Inc. will post 1.41 EPS for the current fiscal 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.