Sei Investments Co. Reduces Position in CarGurus, Inc. $CARG

Sei Investments Co. decreased its stake in shares of CarGurus, Inc. (NASDAQ:CARG) by 6.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 298,846 shares of the company’s stock after selling 21,042 shares during the quarter. Sei Investments Co. owned about 0.31% of CarGurus worth $10,176,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new stake in shares of CarGurus during the third quarter valued at $46,000. Torren Management LLC purchased a new position in CarGurus in the 4th quarter worth $49,000. EverSource Wealth Advisors LLC raised its stake in CarGurus by 491.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after acquiring an additional 1,362 shares during the last quarter. Clearstead Advisors LLC lifted its position in CarGurus by 321.2% during the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after acquiring an additional 1,622 shares during the period. Finally, Rockefeller Capital Management L.P. lifted its position in CarGurus by 356.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock worth $83,000 after acquiring an additional 1,697 shares during the period. Hedge funds and other institutional investors own 86.90% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction of $133,954.72. Following the completion of the transaction, the chief technology officer directly owned 233,146 shares in the company, valued at approximately $8,167,104.38. This trade represents a 1.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total value of $86,365.44. Following the completion of the transaction, the insider directly owned 92,894 shares of the company’s stock, valued at $3,210,416.64. The trade was a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 25,559 shares of company stock valued at $841,568 over the last ninety days. Company insiders own 18.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CARG. Piper Sandler reissued a “sector weight” rating on shares of CarGurus in a report on Friday, June 12th. Citigroup assumed coverage on CarGurus in a report on Friday, June 12th. They set a “buy” rating for the company. Needham & Company LLC lifted their target price on CarGurus from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their target price on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Friday, May 8th. Finally, Barclays increased their price target on shares of CarGurus from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $38.55.

CarGurus Stock Performance

NASDAQ:CARG opened at $36.24 on Friday. CarGurus, Inc. has a one year low of $26.39 and a one year high of $39.42. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 23.84, a PEG ratio of 1.32 and a beta of 1.18. The firm’s fifty day moving average is $32.03 and its two-hundred day moving average is $32.60.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.02. The company had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.10 million. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, equities research analysts predict that CarGurus, Inc. will post 2.11 earnings per share for the current fiscal year.

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.