CarGurus, Inc. $CARG Holdings Cut by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC has reduced its stake in CarGurus, Inc. by 56.6%, selling 13,105 shares and holding 10,063 shares valued at approximately $290,000 after the transaction.
• Multiple institutional investors have increased their positions in CarGurus during the first quarter, with Versant Capital Management Inc leading with a 695.4% increase.
• Analysts currently have a mix of ratings on CarGurus, with an average target price of $38.13 and six analysts recommending a buy.

Hsbc Holdings PLC decreased its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,063 shares of the company's stock after selling 13,105 shares during the quarter. Hsbc Holdings PLC's holdings in CarGurus were worth $290,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CARG. Invesco Ltd. increased its stake in shares of CarGurus by 340.5% in the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock valued at $46,808,000 after purchasing an additional 1,242,076 shares during the period. American Century Companies Inc. increased its stake in shares of CarGurus by 547.9% during the first quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock valued at $40,734,000 after acquiring an additional 1,182,499 shares during the period. Wellington Management Group LLP increased its stake in shares of CarGurus by 12.7% during the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after acquiring an additional 906,830 shares during the period. Boston Partners increased its stake in shares of CarGurus by 1,641.2% during the first quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after acquiring an additional 828,099 shares during the period. Finally, Nuveen LLC acquired a new position in shares of CarGurus during the first quarter valued at approximately $21,884,000. Institutional investors and hedge funds own 86.90% of the company's stock.

Insider Transactions at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 4,369 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $144,570.21. Following the completion of the transaction, the chief executive officer owned 121,584 shares of the company's stock, valued at approximately $4,023,214.56. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,789 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 $125,378.01. Following the completion of the transaction, the chief technology officer directly owned 216,877 shares of the company's stock, valued at $7,176,459.93. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,538 shares of company stock worth $1,067,077. 16.99% of the stock is currently owned by insiders.

CarGurus Price Performance

CarGurus stock traded down $0.43 during midday trading on Wednesday, reaching $35.40. The stock had a trading volume of 732,635 shares, compared to its average volume of 1,069,226. The firm's fifty day simple moving average is $33.38 and its two-hundred day simple moving average is $31.38. CarGurus, Inc. has a twelve month low of $24.65 and a twelve month high of $41.33. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 28.78, a PEG ratio of 1.70 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 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The firm had revenue of $234.03 million during the quarter, compared to analyst estimates of $232.29 million. During the same quarter last year, the business posted $0.41 EPS. The company's revenue was up 7.0% on a year-over-year basis. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, sell-side analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CARG. Oppenheimer lowered their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. UBS Group raised their price objective on shares of CarGurus from $33.00 to $36.00 and gave the company a "neutral" rating in a research note on Friday, August 8th. Gordon Haskett began coverage on shares of CarGurus in a research note on Monday, July 14th. They set a "hold" rating and a $35.00 price objective on the stock. BTIG Research reiterated a "buy" rating and set a $39.00 price objective on shares of CarGurus in a research note on Friday, September 5th. Finally, Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target 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.