Swiss National Bank Decreases Stake in CarGurus, Inc. $CARG

Swiss National Bank decreased its stake in CarGurus, Inc. (NASDAQ:CARG) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,900 shares of the company’s stock after selling 1,300 shares during the period. Swiss National Bank owned approximately 0.16% of CarGurus worth $4,716,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CARG. Bessemer Group Inc. boosted its holdings in CarGurus by 237,430.8% in the first quarter. Bessemer Group Inc. now owns 731,595 shares of the company’s stock valued at $21,312,000 after purchasing an additional 731,287 shares during the last quarter. No Street GP LP acquired a new position in shares of CarGurus in the 4th quarter valued at approximately $25,578,000. Oberweis Asset Management Inc. purchased a new position in shares of CarGurus during the 4th quarter valued at approximately $18,270,000. Tybourne Capital Management HK Ltd. boosted its stake in shares of CarGurus by 165.4% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 265,346 shares of the company’s stock valued at $9,696,000 after buying an additional 165,365 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of CarGurus during the first quarter worth approximately $4,774,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Activity

In other CarGurus news, insider Ismail Elshareef sold 5,246 shares of the company’s stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $164,567.02. Following the completion of the transaction, the insider owned 107,007 shares in the company, valued at approximately $3,356,809.59. This represents a 4.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of CarGurus stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $144,570.21. Following the sale, the chief executive officer directly owned 121,584 shares in the company, valued at approximately $4,023,214.56. This trade represents a 3.47% 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 over the last three months. Insiders own 17.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CARG. Gordon Haskett assumed coverage on shares of CarGurus in a report on Monday, July 14th. They set a “hold” rating and a $35.00 price objective for the company. Needham & Company LLC lifted their price target 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 report on Wednesday, July 2nd. UBS Group upped their price objective on CarGurus from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Friday, August 8th. Finally, JMP Securities reaffirmed a “market perform” rating and set a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Six investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, CarGurus has an average rating of “Hold” and a consensus price target of $38.13.

CarGurus Stock Up 0.2%

Shares of CARG stock opened at $32.45 on Wednesday. The company has a market cap of $3.22 billion, a P/E ratio of 26.38, a PEG ratio of 1.59 and a beta of 1.42. The business has a 50 day moving average of $32.69 and a two-hundred day moving average of $31.79. CarGurus, Inc. has a 52 week low of $24.65 and a 52 week high of $41.33.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The business had revenue of $234.03 million for the quarter, compared to the consensus estimate of $232.29 million. During the same quarter last year, the business posted $0.41 EPS. The business’s revenue was up 7.0% on a year-over-year basis. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. Analysts expect that CarGurus, Inc. will post 1.41 EPS for the current fiscal year.

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.