Strs Ohio Purchases New Position in CarGurus, Inc. $CARG

Key Points

• Strs Ohio has acquired a new position in CarGurus, Inc., purchasing 30,100 shares valued at approximately $877,000 in the first quarter.
• CarGurus reported earnings of $0.57 per share for the most recent quarter, exceeding analysts' expectations, with a revenue increase of 7% year-over-year.
• Institutional investors own 86.90% of CarGurus stock, reflecting significant interest from the investment community.

Strs Ohio bought a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,100 shares of the company's stock, valued at approximately $877,000.

Other large investors have also made changes to their positions in the company. Invesco Ltd. lifted its stake in shares of CarGurus by 340.5% in the 1st quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after purchasing an additional 1,242,076 shares during the period. American Century Companies Inc. raised its position in CarGurus by 547.9% in the first quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock worth $40,734,000 after acquiring an additional 1,182,499 shares during the period. Wellington Management Group LLP boosted its stake in shares of CarGurus by 12.7% during the 1st quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock worth $234,560,000 after acquiring an additional 906,830 shares during the last quarter. Boston Partners grew its position in shares of CarGurus by 1,641.2% during the 1st quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after acquiring an additional 828,099 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of CarGurus in the 1st quarter worth $21,884,000. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CARG has been the topic of several analyst reports. Oppenheimer lowered their target price on CarGurus from $42.00 to $40.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 12th. Gordon Haskett assumed coverage on CarGurus in a report on Monday, July 14th. They issued a "hold" rating and a $35.00 price target on the stock. Citizens Jmp downgraded CarGurus from an "outperform" rating to a "market perform" rating in a research note on Wednesday, July 2nd. Needham & Company LLC lifted their price objective on shares of CarGurus from $39.00 to $44.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Finally, UBS Group upped their target price on shares of CarGurus from $33.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Six research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat.com, CarGurus currently has a consensus rating of "Hold" and a consensus price target of $38.46.

CarGurus Price Performance

Shares of CARG traded up $0.49 during midday trading on Monday, hitting $37.83. The stock had a trading volume of 1,793,284 shares, compared to its average volume of 1,034,015. The stock's 50 day moving average is $33.82 and its 200 day moving average is $31.67. The firm has a market cap of $3.76 billion, a PE ratio of 30.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.54. CarGurus, Inc. has a 1 year low of $24.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.54 by $0.03. The company had revenue of $234.03 million for 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 firm's revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. As a group, equities research analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

Insider Transactions at CarGurus

In other news, insider Ismail Elshareef sold 1,325 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $46,375.00. Following the completion of the sale, the insider directly owned 104,322 shares of the company's stock, valued at approximately $3,651,270. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the firm's stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $33.84, for a total transaction of $58,644.72. Following the completion of the transaction, the chief executive officer directly owned 117,045 shares in the company, valued at $3,960,802.80. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,538 shares of company stock valued at $1,427,877. Company insiders own 17.20% of the company's stock.

CarGurus 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.