Intech Investment Management LLC Increases Stock Holdings in CarGurus, Inc. $CARG

Key Points

• Intech Investment Management LLC increased its position in CarGurus, purchasing an additional 22,425 shares, raising its total holdings to 67,246 shares, valued at approximately $1.96 million.
• CarGurus reported a Q2 earnings per share (EPS) of $0.57, exceeding estimates by $0.03, with a quarterly revenue of $234.03 million, marking a 7% year-over-year increase.
• As of the latest reports, 86.90% of CarGurus stock is owned by institutional investors, reflecting significant interest from major financial entities.

Intech Investment Management LLC increased its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,246 shares of the company's stock after purchasing an additional 22,425 shares during the quarter. Intech Investment Management LLC owned about 0.06% of CarGurus worth $1,959,000 at the end of the most recent quarter.

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

CarGurus Stock Performance

Shares of NASDAQ CARG traded down $0.23 during mid-day trading on Friday, hitting $37.34. The stock had a trading volume of 1,988,300 shares, compared to its average volume of 1,020,289. The business has a 50 day moving average price of $33.75 and a two-hundred day moving average price of $31.63. The firm has a market cap of $3.71 billion, a P/E ratio of 30.36, a price-to-earnings-growth ratio of 1.78 and a beta of 1.54. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million for 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%. The company's quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. Equities research analysts predict that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ismail Elshareef sold 1,325 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $46,375.00. Following the completion of the sale, the insider directly owned 104,322 shares of the company's stock, valued at approximately $3,651,270. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Javier Zamora sold 6,154 shares of the company's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $35.00, for a total value of $215,390.00. Following the completion of the transaction, the general counsel owned 92,807 shares of the company's stock, valued at $3,248,245. The trade was a 6.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,538 shares of company stock worth $1,427,877 in the last ninety days. Corporate insiders own 16.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CARG. JMP Securities restated a "market perform" rating and set a $38.00 price objective on shares of CarGurus in a research note on Wednesday, July 2nd. Wall Street Zen downgraded shares of CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Gordon Haskett initiated coverage on shares of CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 target price for the company. Oppenheimer cut their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Finally, UBS Group upped their price target on shares of CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.46.

CarGurus Company 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.