Northern Trust Corp Decreases Position in CarGurus, Inc. $CARG

Key Points

• Northern Trust Corp reduced its stake in CarGurus, Inc. by 2.2%, selling 20,568 shares and owning 921,967 shares worth approximately $26.85 million as of the end of the most recent quarter.
• Several institutional investors, including Vanguard Group and Invesco Ltd., increased their stakes in CarGurus significantly, showcasing strong institutional support for the stock.
• CarGurus reported an earnings per share (EPS) of $0.57 for the previous quarter, beating estimates and indicating a 7% revenue increase compared to the same quarter last year.

Northern Trust Corp cut its stake in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 921,967 shares of the company's stock after selling 20,568 shares during the period. Northern Trust Corp owned 0.88% of CarGurus worth $26,857,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of CarGurus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after acquiring an additional 10,787 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of CarGurus by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after buying an additional 93,722 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of CarGurus by 35.4% during the 1st quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after buying an additional 1,097 shares in the last quarter. Bosman Wealth Management LLC purchased a new position in shares of CarGurus during the 1st quarter valued at about $2,638,000. Finally, Jupiter Asset Management Ltd. purchased a new position in CarGurus in the 1st quarter worth approximately $468,000. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 1.6%

Shares of NASDAQ CARG traded up $0.55 during mid-day trading on Thursday, reaching $35.93. 421,376 shares of the company were exchanged, compared to its average volume of 1,052,306. The stock has a market cap of $3.57 billion, a price-to-earnings ratio of 29.22, a P/E/G ratio of 1.64 and a beta of 1.54. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33. The firm has a 50-day moving average of $33.13 and a 200 day moving average of $31.43.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.03. The firm had revenue of $234.03 million during the quarter, compared to analysts' expectations of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The firm's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current year.

Wall Street Analyst Weigh In

CARG has been the topic of several analyst reports. UBS Group boosted their target price on CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a report on Friday, August 8th. Oppenheimer lowered their price target on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Needham & Company LLC upped their price target on CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, JMP Securities restated a "market perform" rating and set a $38.00 price target on shares of CarGurus in a report on Wednesday, July 2nd. 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, CarGurus currently has an average rating of "Hold" and a consensus target price of $38.13.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 4,168 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total value of $137,919.12. Following the transaction, the chief marketing officer directly owned 115,183 shares of the company's stock, valued at approximately $3,811,405.47. This represents a 3.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus 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 $125,378.01. Following the transaction, the chief technology officer owned 216,877 shares of the company's stock, valued at approximately $7,176,459.93. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,538 shares of company stock valued at $1,067,077. Insiders own 17.20% of the company's stock.

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.