Smith Group Asset Management LLC Makes New $310,000 Investment in CarGurus, Inc. $CARG

Smith Group Asset Management LLC acquired a new position in shares of CarGurus, Inc. (NASDAQ:CARG) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 9,251 shares of the company’s stock, valued at approximately $310,000.

A number of other large investors have also made changes to their positions in CARG. GAMMA Investing LLC grew its position in shares of CarGurus by 35.4% in the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company’s stock valued at $122,000 after purchasing an additional 1,097 shares in the last quarter. Blue Trust Inc. grew its position in shares of CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company’s stock valued at $73,000 after purchasing an additional 829 shares in the last quarter. Bessemer Group Inc. grew its position in shares of 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 in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of CarGurus by 37.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 76,095 shares of the company’s stock valued at $2,217,000 after purchasing an additional 20,834 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of CarGurus by 2.3% in the first quarter. Principal Financial Group Inc. now owns 482,484 shares of the company’s stock valued at $14,055,000 after purchasing an additional 10,787 shares in the last quarter. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the company. BTIG Research reiterated a “buy” rating and issued a $39.00 price objective on shares of CarGurus in a report on Friday, September 5th. Gordon Haskett started coverage on CarGurus in a research report on Monday, July 14th. They set a “hold” rating and a $35.00 price objective on the stock. UBS Group increased their target price on CarGurus from $36.00 to $40.00 and gave the company a “neutral” rating in a report on Monday, October 6th. Wall Street Zen lowered CarGurus from a “strong-buy” rating to a “buy” rating in a report on Friday, September 5th. Finally, Needham & Company LLC increased their target price on CarGurus from $39.00 to $44.00 and gave the company a “buy” rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $39.68.

Insider Activity at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 9,998 shares of CarGurus stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $36.88, for a total value of $368,726.24. Following the completion of the sale, the insider directly owned 54,807 shares of the company’s stock, valued at approximately $2,021,282.16. The trade was a 15.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction that occurred on Thursday, October 16th. The stock was sold at an average price of $34.92, for a total transaction of $349,200.00. Following the completion of the sale, the chief operating officer directly owned 420,259 shares of the company’s stock, valued at $14,675,444.28. The trade was a 2.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,998 shares of company stock valued at $1,078,726 over the last ninety days. 16.99% of the stock is owned by corporate insiders.

CarGurus Price Performance

Shares of CARG opened at $36.21 on Friday. The firm has a 50 day simple moving average of $35.51 and a 200-day simple moving average of $32.65. CarGurus, Inc. has a 1-year low of $24.65 and a 1-year high of $41.33. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The business had revenue of $234.03 million during the quarter, compared to analysts’ expectations of $232.29 million. During the same period last year, the company posted $0.41 EPS. The company’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. On average, equities analysts expect that CarGurus, Inc. will post 1.41 earnings per share for the current fiscal year.

About CarGurus

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.