First Trust Advisors LP Increases Stock Position in CarGurus, Inc. $CARG

First Trust Advisors LP raised its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 14.9% in the 1st quarter, HoldingsChannel reports. The firm owned 150,967 shares of the company’s stock after purchasing an additional 19,562 shares during the period. First Trust Advisors LP’s holdings in CarGurus were worth $5,140,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CARG. Royal Bank of Canada lifted its holdings in shares of CarGurus by 22.6% during the 1st quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock worth $2,186,000 after acquiring an additional 13,834 shares during the last quarter. AQR Capital Management LLC increased 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 acquiring an additional 5,259 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased 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 acquiring an additional 1,890 shares during the last quarter. Jane Street Group LLC raised its position in CarGurus by 113.0% during the first quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after purchasing an additional 65,420 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in CarGurus during the second quarter valued at about $87,000. Institutional investors own 86.90% of the company’s stock.

CarGurus Stock Up 1.9%

Shares of NASDAQ:CARG opened at $36.93 on Tuesday. The stock has a market cap of $3.33 billion, a PE ratio of 24.30, a PEG ratio of 1.32 and a beta of 1.17. The company’s fifty day moving average is $32.21 and its 200 day moving average is $32.56. CarGurus, Inc. has a 52 week low of $26.39 and a 52 week high of $39.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The business had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.10 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Sell-side analysts anticipate that CarGurus, Inc. will post 2.11 EPS for the current year.

Insider Activity

In related news, General Counsel Javier Zamora sold 3,533 shares of the firm’s stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $36.06, for a total transaction of $127,399.98. Following the transaction, the general counsel directly owned 88,345 shares in the company, valued at $3,185,720.70. This trade represents a 3.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the transaction, the chief technology officer directly owned 233,146 shares in the company, valued at $8,167,104.38. This trade represents a 1.61% 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. In the last quarter, insiders sold 25,559 shares of company stock valued at $841,568. Insiders own 18.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Citigroup assumed coverage on CarGurus in a report on Friday, June 12th. They issued a “buy” rating for the company. Freedom Capital raised CarGurus to a “strong-buy” rating in a report on Friday, June 12th. Piper Sandler restated a “sector weight” rating on shares of CarGurus in a research report on Friday, June 12th. UBS Group set a $35.00 target price on CarGurus in a research note on Thursday, May 28th. Finally, Weiss Ratings cut shares of CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $38.55.

CarGurus 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.