Pacer Advisors Inc. Purchases 82,222 Shares of CarGurus, Inc. $CARG

Key Points

• Pacer Advisors increased its CarGurus stake by 31.5%, purchasing 82,222 shares to own 342,949 shares valued at approximately $11.7 million. Institutional investors collectively hold 86.9% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $38.55. Recent target increases include Needham’s move to $43 and RBC’s move to $35.
• CarGurus reported quarterly EPS of $0.58, exceeding estimates by $0.02, while revenue rose 8.2% year over year to $243.56 million. The stock opened at $37.02, near its 12-month high of $39.42, although insiders sold 31,764 shares worth about $1.07 million over the past 90 days.

Pacer Advisors Inc. lifted its holdings in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 31.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 342,949 shares of the company's stock after purchasing an additional 82,222 shares during the quarter. Pacer Advisors Inc. owned 0.38% of CarGurus worth $11,677,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Horizon Investments LLC raised its stake in CarGurus by 2.0% during the fourth quarter. Horizon Investments LLC now owns 16,375 shares of the company's stock valued at $628,000 after purchasing an additional 318 shares in the last quarter. ProShare Advisors LLC lifted its position in CarGurus by 2.8% during the fourth quarter. ProShare Advisors LLC now owns 15,992 shares of the company's stock valued at $613,000 after purchasing an additional 436 shares during the last quarter. Ritholtz Wealth Management grew its stake in shares of CarGurus by 4.2% in the 1st quarter. Ritholtz Wealth Management now owns 11,039 shares of the company's stock worth $376,000 after buying an additional 449 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of CarGurus by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 7,094 shares of the company's stock worth $272,000 after buying an additional 514 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its holdings in shares of CarGurus by 1.6% in the 4th quarter. Illinois Municipal Retirement Fund now owns 43,583 shares of the company's stock worth $1,671,000 after buying an additional 679 shares during the last quarter. Institutional investors own 86.90% of the company's stock.

Wall Street Analysts Forecast Growth

CARG has been the topic of several recent research reports. Piper Sandler restated a "sector weight" rating on shares of CarGurus in a research report on Friday, June 12th. Wall Street Zen upgraded CarGurus from a "hold" rating to a "buy" rating in a research report on Saturday, June 27th. Royal Bank Of Canada boosted their price objective on CarGurus from $34.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, May 11th. Freedom Capital upgraded CarGurus to a "strong-buy" rating in a research report on Friday, June 12th. Finally, Needham & Company LLC raised their price objective on CarGurus from $37.00 to $43.00 and gave the company a "buy" rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $38.55.

CarGurus Stock Up 0.2%

CARG stock opened at $37.02 on Wednesday. CarGurus, Inc. has a twelve month low of $26.39 and a twelve month high of $39.42. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.35 and a beta of 1.17. The firm's fifty day simple moving average is $32.39 and its two-hundred day simple moving average is $32.58.

CarGurus (NASDAQ:CARG - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The firm had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.10 million. During the same quarter last year, the business earned $0.46 EPS. The business's revenue was up 8.2% on a year-over-year basis. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, equities research analysts expect that CarGurus, Inc. will post 2.11 EPS for the current year.

Insiders Place Their Bets

In other CarGurus news, CTO Matthew Todd Quinn sold 3,824 shares of the firm's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the sale, the chief technology officer owned 233,146 shares of the company's stock, valued at $8,167,104.38. This trade represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 6,205 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $37.08, for a total value of $230,081.40. Following the transaction, the general counsel owned 80,260 shares of the company's stock, valued at $2,976,040.80. This trade represents a 7.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 31,764 shares of company stock valued at $1,071,649 over the last 90 days. Insiders own 18.19% of the company's stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company's core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.

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