Universal Beteiligungs und Servicegesellschaft mbH significantly increased its investment in CarGurus, Inc. by 72.1% in the second quarter, as revealed in the company’s latest 13F filing with the Securities and Exchange Commission. Following the purchase of an additional 46,868 shares, the firm now holds 111,871 shares, which are valued at approximately $3.74 million, representing about 0.11% of CarGurus.
Other institutional investors have also shown interest in CarGurus, contributing to a growing network of shareholders. Notably, Cetera Investment Advisers entered a new position valued at $996,000 during the same quarter. Creative Planning expanded its stake by 23.9%, now owning 51,427 shares worth $1.72 million after acquiring an additional 9,923 shares. The Commonwealth of Pennsylvania Public School Employees Retirement System increased its involvement by 3.2% and now holds 21,728 shares valued at $727,000. In a remarkable move, Jupiter Asset Management Ltd. boosted its holdings by a staggering 992.1%, acquiring 175,500 shares valued at $5.87 million. Boston Partners also increased its stake by 17.5%, totaling 1,031,988 shares worth approximately $34.27 million. Overall, institutional and hedge fund investors now own about 86.90% of CarGurus.
On the stock market, CarGurus shares opened at $34.60 on Friday. The company’s market capitalization stands at $3.30 billion, with a price-to-earnings ratio of 23.54 and a beta of 1.50. Over the past year, the stock has seen fluctuations, reaching a low of $24.65 and a high of $41.33. Currently, CarGurus has a 50-day moving average of $35.67 and a 200-day moving average of $33.82.
CarGurus recently announced positive earnings results for the quarter ending November 6th, reporting an earnings per share (EPS) of $0.57, which surpassed analysts’ expectations of $0.55. The company’s revenue for the quarter was $238.7 million, exceeding the forecasted $234.57 million, and demonstrating a year-over-year revenue growth of 3.2%. CarGurus has set its fiscal year 2025 guidance between 2.190 and 2.250 EPS, with a fourth-quarter guidance of 0.610 to 0.670 EPS. Analysts predict that the company will achieve an average EPS of 1.41 for the current fiscal year.
Insider trading activity at CarGurus includes significant sales, with insider Ismail Elshareef recently selling 1,228 shares for approximately $42,955.44. Following this transaction, Elshareef holds 95,907 shares valued at around $3.35 million. Moreover, insider Jennifer Ladd Hanson disposed of 9,998 shares for about $368,726. Over the last 90 days, insiders have sold a total of 41,226 shares worth $1.47 million.
Recent assessments by analysts show varied target price adjustments for CarGurus. UBS increased its target from $36 to $40, maintaining a “neutral” rating. Citigroup also raised its price target from $37 to $41. JPMorgan Chase set its target at $43, while Needham & Company LLC increased it to $44, issuing a “buy” rating. Currently, CarGurus holds a consensus rating of “Hold” with an average target price of $39.95.
CarGurus operates an essential online automotive platform facilitating the buying and selling of vehicles, catering to a global audience. This initiative places them in a competitive position within the automotive marketplace, reinforcing their growth amid an evolving consumer landscape. As institutional backing continues to strengthen and earnings showcase resilience, there is optimism about CarGurus’ potential for further success in the coming periods.