384,626 Shares in CarGurus, Inc. $CARG Purchased by Pale Fire Capital SE

Pale Fire Capital SE bought a new position in shares of CarGurus, Inc. (NASDAQ:CARG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 384,626 shares of the company’s stock, valued at approximately $13,112,000. CarGurus accounts for about 0.4% of Pale Fire Capital SE’s investment portfolio, making the stock its 17th largest holding.

Other hedge funds have also made changes to their positions in the company. UBS Group AG raised its position in shares of CarGurus by 158.2% during the 3rd quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock valued at $57,254,000 after buying an additional 942,199 shares during the period. Wellington Management Group LLP boosted its position in shares of CarGurus by 6.6% during the 3rd quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock worth $358,773,000 after purchasing an additional 594,670 shares during the period. William Blair Investment Management LLC purchased a new position in shares of CarGurus during the 4th quarter worth approximately $21,756,000. Northwestern Mutual Wealth Management Co. increased its holdings in CarGurus by 159,137.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 536,629 shares of the company’s stock valued at $22,787,000 after purchasing an additional 536,292 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in CarGurus in the 2nd quarter valued at approximately $15,631,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Stock Performance

CARG opened at $34.63 on Thursday. CarGurus, Inc. has a one year low of $26.39 and a one year high of $41.22. The company has a market cap of $3.08 billion, a P/E ratio of 18.82, a PEG ratio of 1.23 and a beta of 1.16. The business’s 50-day simple moving average is $35.62 and its 200-day simple moving average is $33.31.

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

Insider Activity

In other CarGurus news, Director Greg M. 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 transaction, the director owned 8,716 shares of the company’s stock, valued at $314,386.12. The trade was a 53.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Matthew Todd Quinn sold 3,824 shares of the business’s stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the sale, the chief technology officer owned 233,146 shares of the company’s stock, valued at approximately $8,167,104.38. This represents a 1.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 61,943 shares of company stock worth $2,238,736 over the last ninety days. 18.19% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on CARG. Freedom Capital upgraded CarGurus to a “strong-buy” rating in a report on Friday, June 12th. BTIG Research increased their target price on shares of CarGurus from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, August 7th. Oppenheimer upped their price objective on CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings raised CarGurus from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.75.

CarGurus Company 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.