Great Lakes Advisors LLC Sells 9,516 Shares of CarGurus, Inc. $CARG

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 cut its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 264,588 shares of the company's stock after selling 9,516 shares during the quarter. Great Lakes Advisors LLC owned 0.25% of CarGurus worth $7,707,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CARG. BI Asset Management Fondsmaeglerselskab A S bought a new position in CarGurus in the 1st quarter worth about $46,000. Signaturefd LLC boosted its stake in CarGurus by 83.9% in the 1st 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. raised its holdings in CarGurus by 49.8% during the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after buying an additional 829 shares during the period. Versant Capital Management Inc increased its stake in CarGurus by 695.4% in the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock worth $76,000 after purchasing an additional 2,267 shares during the period. Finally, Bayforest Capital Ltd purchased a new position in shares of CarGurus during the first quarter valued at $76,000. Institutional investors own 86.90% of the company's stock.

CarGurus Stock Performance

Shares of NASDAQ:CARG traded down $0.26 during midday trading on Friday, hitting $36.03. The company's stock had a trading volume of 661,179 shares, 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 stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 1.72 and a beta of 1.54. The stock's 50 day simple moving average is $33.48 and its 200 day simple moving average is $31.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The company had revenue of $234.03 million during the quarter, compared to analysts' expectations of $232.29 million. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. CarGurus's quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company 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.

Insider Activity at CarGurus

In other news, CTO Matthew Todd Quinn sold 3,789 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $125,378.01. Following the sale, the chief technology officer directly owned 216,877 shares of the company's stock, valued at approximately $7,176,459.93. This represents a 1.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Dafna Sarnoff sold 4,168 shares of the firm'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 transaction of $137,919.12. Following the sale, the chief marketing officer owned 115,183 shares of the company's stock, valued at $3,811,405.47. This trade represents a 3.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,538 shares of company stock worth $1,067,077. Corporate insiders own 16.99% of the company's stock.

Wall Street Analyst Weigh In

CARG has been the subject of a number of analyst reports. Oppenheimer decreased their price target on CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Wall Street Zen cut shares of CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. UBS Group raised their price target on CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a research note on Friday, August 8th. Citigroup reduced 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. Finally, BTIG Research reiterated a "buy" rating and issued a $39.00 target price on shares of CarGurus in a research note on Friday, September 5th. Six investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.46.

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.