CarGurus, Inc. $CARG Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. significantly increased its stake in CarGurus, Inc. by 340.5% in Q1, owning approximately 1.54% of the company with total shares reaching 1,606,869, valued at $46.8 million.
• Wall Street analysts have mixed views on CarGurus stock, with recent target price adjustments ranging from $35.00 to $44.00, and a consensus rating of "Hold."
• Insider trading at CarGurus included sales by COO Samuel Zales and CEO Zachary Emerson Hallowell, indicating a decrease in their ownership percentage following the transactions.

Invesco Ltd. lifted its holdings in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 340.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,606,869 shares of the company's stock after purchasing an additional 1,242,076 shares during the quarter. Invesco Ltd. owned about 1.54% of CarGurus worth $46,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CARG. Envestnet Asset Management Inc. boosted its holdings in CarGurus by 41.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 36,206 shares of the company's stock valued at $1,323,000 after acquiring an additional 10,614 shares during the period. Bank of Montreal Can boosted its holdings in CarGurus by 7.0% during the 4th quarter. Bank of Montreal Can now owns 20,252 shares of the company's stock valued at $740,000 after acquiring an additional 1,317 shares during the period. Renaissance Technologies LLC boosted its holdings in CarGurus by 500.1% during the 4th quarter. Renaissance Technologies LLC now owns 139,827 shares of the company's stock valued at $5,109,000 after acquiring an additional 116,527 shares during the period. Raymond James Financial Inc. purchased a new position in CarGurus during the 4th quarter valued at about $19,465,000. Finally, Summit Investment Advisors Inc. boosted its holdings in CarGurus by 4.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock valued at $332,000 after acquiring an additional 423 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

CARG stock traded up $1.5610 during mid-day trading on Friday, reaching $33.7610. The company had a trading volume of 418,484 shares, compared to its average volume of 1,043,318. The company has a market capitalization of $3.35 billion, a price-to-earnings ratio of 27.37, a price-to-earnings-growth ratio of 1.50 and a beta of 1.42. The firm has a fifty day simple moving average of $32.67 and a 200 day simple moving average of $31.74. CarGurus, Inc. has a fifty-two week low of $24.65 and a fifty-two week high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly 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. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The company had revenue of $234.03 million for the quarter, compared to analyst estimates of $232.29 million. During the same quarter last year, the company earned $0.41 EPS. CarGurus's revenue for the quarter was up 7.0% compared to the same quarter last year. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, analysts predict that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Insider Buying and Selling at CarGurus

In other news, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $33.88, for a total transaction of $338,800.00. Following the sale, the chief operating officer owned 461,821 shares of the company's stock, valued at approximately $15,646,495.48. This trade represents a 2.12% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 3,789 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 value of $125,378.01. Following the sale, the chief technology officer directly owned 216,877 shares in the company, valued at $7,176,459.93. This trade 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 49,049 shares of company stock worth $1,616,397. 16.99% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Needham & Company LLC raised their target price on CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a report on Friday, August 8th. Gordon Haskett assumed coverage on CarGurus in a report on Monday, July 14th. They set a "hold" rating and a $35.00 target price for the company. Citigroup lowered their target price on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd. JMP Securities reaffirmed a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a research report on Wednesday, July 2nd. Finally, Oppenheimer reduced their price target on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $38.13.

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.