Prevatt Capital Ltd Raises Stock Position in CarGurus, Inc. $CARG

Key Points

• Prevatt Capital Ltd has increased its stake in CarGurus, Inc. by 3.7%, now owning 1,400,000 shares, which accounts for 13.7% of its total holdings.
• CarGurus reported an EPS of $0.57 for the quarter, exceeding the consensus estimate of $0.54, and its revenue rose 7.0% year-over-year to $234.03 million.
• Analysts have mixed ratings for CarGurus, with a consensus rating of "Hold" and a target price averaging $38.13.

Prevatt Capital Ltd lifted its position in shares of CarGurus, Inc. (NASDAQ:CARG - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,400,000 shares of the company's stock after buying an additional 50,000 shares during the period. CarGurus makes up about 13.7% of Prevatt Capital Ltd's holdings, making the stock its biggest holding. Prevatt Capital Ltd owned 1.34% of CarGurus worth $40,782,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of CarGurus during the 1st quarter worth $46,000. Signaturefd LLC increased its holdings 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 buying an additional 799 shares during the last quarter. Blue Trust Inc. increased its holdings 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 buying an additional 829 shares during the last quarter. Versant Capital Management Inc boosted its position in 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 period. Finally, NewEdge Advisors LLC increased its holdings in CarGurus by 25.0% in the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after purchasing an additional 543 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CARG. Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Gordon Haskett began coverage on CarGurus in a report on Monday, July 14th. They issued a "hold" rating and a $35.00 price target for the company. JMP Securities reiterated a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Oppenheimer lowered their price target on CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. Six research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $38.13.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total value of $338,800.00. Following the sale, the chief operating officer directly owned 461,821 shares in the company, valued at $15,646,495.48. This trade represents a 2.12% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,789 shares of CarGurus stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total transaction of $125,378.01. Following the completion of the sale, the chief technology officer owned 216,877 shares in the company, 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. Over the last ninety days, insiders have sold 31,538 shares of company stock worth $1,067,077. 17.20% of the stock is owned by company insiders.

CarGurus Trading Up 2.2%

NASDAQ:CARG traded up $0.80 on Thursday, reaching $36.18. The stock had a trading volume of 714,715 shares, compared to its average volume of 1,053,717. The company has a 50-day moving average of $33.13 and a 200 day moving average of $31.43. The stock has a market cap of $3.59 billion, a P/E ratio of 29.41, a price-to-earnings-growth ratio of 1.64 and a beta of 1.54. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33.

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

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.