Engineers Gate Manager LP Reduces Stock Position in CarGurus, Inc. $CARG

Engineers Gate Manager LP trimmed its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 42.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,510 shares of the company’s stock after selling 43,408 shares during the quarter. Engineers Gate Manager LP’s holdings in CarGurus were worth $1,995,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CARG. William Blair Investment Management LLC bought a new stake in shares of CarGurus in the fourth quarter worth $21,756,000. Northwestern Mutual Wealth Management Co. lifted its holdings in CarGurus by 159,137.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after acquiring an additional 536,292 shares during the period. Bank of New York Mellon Corp purchased a new position in CarGurus in the second quarter worth about $15,631,000. Pale Fire Capital SE purchased a new position in CarGurus in the second quarter worth about $13,112,000. Finally, Lazard Asset Management LLC grew its stake in shares of CarGurus by 180.8% during the 1st quarter. Lazard Asset Management LLC now owns 445,868 shares of the company’s stock valued at $15,182,000 after purchasing an additional 287,067 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of CarGurus in a research report on Friday, August 7th. Oppenheimer upped their target price on shares of CarGurus from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Royal Bank Of Canada lifted their price target on shares of CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday, August 7th. Weiss Ratings upgraded shares of CarGurus from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Freedom Capital upgraded CarGurus to a “strong-buy” rating in a research note on Friday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $40.75.

Insider Activity at CarGurus

In related news, Director Greg Schwartz sold 10,000 shares of CarGurus stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the sale, the director owned 8,716 shares of the company’s stock, valued at approximately $314,386.12. This trade represents a 53.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Javier Zamora sold 6,205 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $37.08, for a total value of $230,081.40. Following the completion of the transaction, the general counsel directly owned 80,260 shares in the company, valued at approximately $2,976,040.80. This represents a 7.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 61,943 shares of company stock worth $2,238,736 in the last three months. Corporate insiders own 18.19% of the company’s stock.

CarGurus Stock Performance

Shares of CarGurus stock opened at $35.00 on Wednesday. CarGurus, Inc. has a fifty-two week low of $26.39 and a fifty-two week high of $41.22. The company has a market capitalization of $3.12 billion, a P/E ratio of 19.02, a P/E/G ratio of 1.24 and a beta of 1.16. The company has a fifty day moving average of $35.50 and a 200 day moving average of $33.64.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05. CarGurus had a return on equity of 62.88% and a net margin of 18.06%.The business had revenue of $250.97 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same period last year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. Analysts forecast that CarGurus, Inc. will post 2.17 EPS for the current year.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate pricing and vehicle details, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital advertising and marketing products designed to help them display inventory and reach prospective buyers.

The company also provides tools and services intended to support automotive retailers throughout the vehicle-shopping process, including inventory merchandising, lead generation, pricing insights and digital retail capabilities.