Hsbc Holdings PLC Sells 13,105 Shares of CarGurus, Inc. $CARG

Hsbc Holdings PLC cut its position in CarGurus, Inc. (NASDAQ:CARG) by 56.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,063 shares of the company’s stock after selling 13,105 shares during the quarter. Hsbc Holdings PLC’s holdings in CarGurus were worth $290,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC lifted its position in shares of CarGurus by 83.9% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company’s stock valued at $51,000 after acquiring an additional 799 shares during the period. Blue Trust Inc. lifted its position in shares of CarGurus by 49.8% during the 1st quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock valued at $73,000 after acquiring an additional 829 shares during the period. Versant Capital Management Inc lifted its position in shares of CarGurus by 695.4% during the 1st quarter. Versant Capital Management Inc now owns 2,593 shares of the company’s stock valued at $76,000 after acquiring an additional 2,267 shares during the period. Bayforest Capital Ltd bought a new stake in shares of CarGurus during the 1st quarter valued at $76,000. Finally, US Bancorp DE lifted its position in shares of CarGurus by 14.6% during the 1st quarter. US Bancorp DE now owns 3,733 shares of the company’s stock valued at $109,000 after acquiring an additional 475 shares during the period. 86.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on CARG shares. JMP Securities reiterated a “market perform” rating and set a $38.00 target price on shares of CarGurus in a research report on Wednesday, July 2nd. Needham & Company LLC upped their target price on CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 8th. Citizens Jmp downgraded CarGurus from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 2nd. Royal Bank Of Canada reissued an “outperform” rating and set a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. Finally, Gordon Haskett began coverage on CarGurus in a report on Monday, July 14th. They set a “hold” rating and a $35.00 price target for the company. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CarGurus currently has an average rating of “Hold” and an average target price of $38.13.

Insider Activity at CarGurus

In related news, General Counsel Javier Zamora sold 6,154 shares of the company’s stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $215,390.00. Following the sale, the general counsel owned 92,807 shares in the company, valued at $3,248,245. This represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the stock in a transaction that occurred 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 owned 117,045 shares in the company, valued at approximately $3,960,802.80. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,538 shares of company stock worth $1,067,077 over the last quarter. 16.99% of the stock is owned by company insiders.

CarGurus Stock Up 2.3%

Shares of CARG opened at $36.18 on Friday. CarGurus, Inc. has a 12-month low of $24.65 and a 12-month high of $41.33. The business has a 50-day simple moving average of $33.20 and a two-hundred day simple moving average of $31.40. The stock has a market cap of $3.59 billion, a PE ratio of 29.41, a PEG ratio of 1.68 and a beta of 1.54.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The business had revenue of $234.03 million during the quarter, compared to analysts’ expectations of $232.29 million. CarGurus had a return on equity of 36.23% and a net margin of 14.12%.The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 EPS. CarGurus has set its Q3 2025 guidance at 0.500-0.580 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 1.41 EPS for the current 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.