Public Sector Pension Investment Board Boosts Stock Position in CarGurus, Inc. $CARG

Key Points

• The Public Sector Pension Investment Board increased its holdings in CarGurus, Inc. by 27.3%, owning approximately $8.13 million in stock by the end of the first quarter.
• CarGurus reported $0.57 earnings per share (EPS) for the most recent quarter, exceeding analysts' expectations, and showcased a 14.12% net margin with a 7% year-over-year revenue growth.
• Analysts have mixed ratings for CarGurus, with seven hold ratings and six buy ratings, and an average price target of $38.13 for the stock.

Public Sector Pension Investment Board grew its position in CarGurus, Inc. (NASDAQ:CARG - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 278,928 shares of the company's stock after buying an additional 59,792 shares during the quarter. Public Sector Pension Investment Board owned 0.27% of CarGurus worth $8,125,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in CarGurus by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock worth $14,055,000 after acquiring an additional 10,787 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of CarGurus by 35.4% during the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after purchasing an additional 1,097 shares in the last quarter. Bosman Wealth Management LLC purchased a new position in CarGurus during the first quarter valued at approximately $2,638,000. Jupiter Asset Management Ltd. bought a new position in CarGurus in the first quarter worth approximately $468,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in CarGurus by 30.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 198,796 shares of the company's stock worth $7,264,000 after buying an additional 46,298 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Price Performance

CARG stock traded down $0.26 during mid-day trading on Tuesday, reaching $32.13. 175,631 shares of the company's stock were exchanged, compared to its average volume of 1,044,865. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The stock's 50 day moving average is $32.70 and its 200 day moving average is $31.78. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last announced 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 business had revenue of $234.03 million during the quarter, compared to the consensus estimate of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The business's quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, research analysts forecast that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on CARG. Needham & Company LLC boosted 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. Gordon Haskett assumed coverage on CarGurus in a research note on Monday, July 14th. They set a "hold" rating and a $35.00 target price on the stock. JMP Securities reissued a "market perform" rating and issued a $38.00 price target on shares of CarGurus in a report on Wednesday, July 2nd. Oppenheimer decreased their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, August 12th. Finally, UBS Group set a $36.00 price target on shares of CarGurus and gave the company a "neutral" rating in a research note on Friday, August 8th. Six analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, CarGurus presently has a consensus rating of "Hold" and an average target price of $38.13.

Insider Buying and Selling

In related news, CEO Zachary Emerson Hallowell sold 1,733 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $33.84, for a total value of $58,644.72. Following the completion of the transaction, the chief executive officer directly owned 117,045 shares of the company's stock, valued at approximately $3,960,802.80. This represents a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $33.88, for a total value of $338,800.00. Following the completion of the transaction, the chief operating officer owned 461,821 shares in the company, valued at $15,646,495.48. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 49,049 shares of company stock worth $1,616,397 in the last quarter. 16.99% of the stock is owned by insiders.

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.