William Blair Investment Management LLC Purchases Shares of 567,314 CarGurus, Inc. $CARG

Key Points

• William Blair Investment Management disclosed a new position in CarGurus, buying 567,314 shares worth about $21.76 million in the fourth quarter, giving it roughly 0.59% ownership of the company.
• Institutional ownership remains high, with several funds increasing their stakes, while 86.90% of CarGurus stock is held by institutional investors and hedge funds.
• CarGurus reported better-than-expected Q1 results with EPS of $0.58 and revenue of $243.56 million, but analysts remain mixed overall, with a consensus rating of Hold and an average price target of $38.23.

William Blair Investment Management LLC purchased a new stake in CarGurus, Inc. (NASDAQ:CARG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 567,314 shares of the company's stock, valued at approximately $21,756,000. William Blair Investment Management LLC owned 0.59% of CarGurus as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CARG. Royal Bank of Canada lifted its stake in CarGurus by 22.6% in the first quarter. Royal Bank of Canada now owns 75,072 shares of the company's stock valued at $2,186,000 after buying an additional 13,834 shares during the period. AQR Capital Management LLC lifted its stake in CarGurus by 25.4% in the first quarter. AQR Capital Management LLC now owns 25,946 shares of the company's stock valued at $756,000 after buying an additional 5,259 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in CarGurus by 3.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company's stock valued at $1,889,000 after buying an additional 1,890 shares during the period. Jane Street Group LLC lifted its stake in CarGurus by 113.0% in the first quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock valued at $3,592,000 after buying an additional 65,420 shares during the period. Finally, Quantbot Technologies LP acquired a new position in CarGurus in the second quarter valued at approximately $87,000. 86.90% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CTO Matthew Todd Quinn sold 4,341 shares of the company's stock in a transaction on Thursday, April 2nd. The stock was sold at an average price of $33.04, for a total transaction of $143,426.64. Following the completion of the sale, the chief technology officer owned 246,098 shares in the company, valued at approximately $8,131,077.92. This represents a 1.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the company's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $35.61, for a total value of $88,989.39. Following the sale, the insider owned 98,191 shares of the company's stock, valued at $3,496,581.51. This trade represents a 2.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 12,852 shares of company stock worth $431,053. 16.99% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CARG shares. Oppenheimer dropped their price target on CarGurus from $40.00 to $38.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 24th. Royal Bank Of Canada boosted their price objective on CarGurus from $34.00 to $35.00 and gave the company an "outperform" rating in a report on Monday, May 11th. BTIG Research decreased their price objective on CarGurus from $44.00 to $37.00 and set a "buy" rating for the company in a report on Friday, February 20th. Needham & Company LLC boosted their price objective on CarGurus from $37.00 to $43.00 and gave the company a "buy" rating in a report on Friday, May 8th. Finally, DA Davidson decreased their price objective on CarGurus from $37.50 to $33.50 and set a "neutral" rating for the company in a report on Friday, February 20th. Five investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, CarGurus has a consensus rating of "Hold" and a consensus target price of $38.23.

CarGurus Price Performance

NASDAQ CARG opened at $28.24 on Tuesday. The company has a market cap of $2.55 billion, a price-to-earnings ratio of 18.58, a P/E/G ratio of 1.05 and a beta of 1.28. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42. The business has a 50 day moving average price of $34.03 and a 200-day moving average price of $34.16.

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

CarGurus Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.