Smith Group Asset Management LLC Invests $310,000 in CarGurus, Inc. $CARG

Key Points

• Smith Group Asset Management LLC has acquired a new stake in CarGurus, Inc. worth approximately $310,000 by purchasing 9,251 shares in the 2nd quarter.
• CarGurus recently reported quarterly earnings of $0.57 per share, surpassing analysts' expectations and showing a year-over-year revenue increase of 7.0%.
• Analysts have varied price targets for CarGurus, with some maintaining a "buy" rating and estimates as high as $44.00 per share, indicating mixed outlooks on the stock's performance.

Smith Group Asset Management LLC acquired a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,251 shares of the company's stock, valued at approximately $310,000.

Other institutional investors have also modified their holdings of the company. Private Wealth Asset Management LLC bought a new stake in shares of CarGurus in the 2nd quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of CarGurus in the 1st quarter valued at approximately $46,000. Fifth Third Bancorp lifted its stake in shares of CarGurus by 121.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,419 shares of the company's stock valued at $47,000 after purchasing an additional 779 shares during the last quarter. Signaturefd LLC lifted its stake in shares of CarGurus by 83.9% in the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock valued at $51,000 after purchasing an additional 799 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of CarGurus by 49.8% in the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after purchasing an additional 829 shares during the last quarter. 86.90% of the stock is owned by institutional investors.

CarGurus Price Performance

CarGurus stock opened at $36.21 on Friday. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.72 and a beta of 1.52. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The business has a fifty day moving average price of $35.51 and a 200-day moving average price of $32.65.

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

Insider Activity

In other news, COO Samuel Zales sold 10,000 shares of the business's stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $36.08, for a total value of $360,800.00. Following the completion of the transaction, the chief operating officer owned 441,821 shares of the company's stock, valued at $15,940,901.68. The trade was a 2.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the transaction, the insider owned 54,807 shares of the company's stock, valued at approximately $2,021,282.16. This represents a 15.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 29,998 shares of company stock valued at $1,078,726. Insiders own 16.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CARG shares. BTIG Research reiterated a "buy" rating and issued a $39.00 price target on shares of CarGurus in a report on Friday, September 5th. Oppenheimer reduced their target price on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 12th. Needham & Company LLC increased their target price on CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Citizens Jmp lowered CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Finally, Wall Street Zen downgraded CarGurus from a "strong-buy" rating to a "buy" rating in a report on Friday, September 5th. Five investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $39.68.

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.

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