Hsbc Holdings PLC Invests $952,000 in CarGurus, Inc. $CARG

Hsbc Holdings PLC acquired a new stake in shares of CarGurus, Inc. (NASDAQ:CARG) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 27,500 shares of the company’s stock, valued at approximately $952,000.

Other institutional investors have also recently made changes to their positions in the company. Convergence Investment Partners LLC acquired a new position in CarGurus during the 4th quarter valued at about $3,742,000. Aberdeen Group plc acquired a new stake in CarGurus in the fourth quarter worth about $14,643,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of CarGurus during the fourth quarter worth about $2,113,000. Louisiana State Employees Retirement System purchased a new stake in shares of CarGurus during the first quarter worth about $1,226,000. Finally, Westover Capital Advisors LLC acquired a new position in shares of CarGurus during the fourth quarter valued at about $1,912,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

Insider Activity

In related news, CTO Matthew Todd Quinn sold 3,824 shares of CarGurus stock in a transaction dated 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 owned 233,146 shares in the company, valued at $8,167,104.38. The trade was a 1.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Javier Zamora sold 3,533 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $36.06, for a total value of $127,399.98. Following the completion of the transaction, the general counsel directly owned 88,345 shares of the company’s stock, valued at $3,185,720.70. The trade was a 3.85% 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 25,559 shares of company stock worth $841,568 in the last ninety days. Company insiders own 18.19% of the company’s stock.

Analyst Upgrades and Downgrades

CARG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research note on Saturday, June 27th. Citigroup initiated coverage on CarGurus in a research report on Friday, June 12th. They set a “buy” rating for the company. Weiss Ratings lowered CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Finally, Needham & Company LLC upped their target price on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.55.

CarGurus Trading Up 1.8%

CarGurus stock opened at $37.07 on Thursday. The firm has a market cap of $3.34 billion, a PE ratio of 24.39, a P/E/G ratio of 1.33 and a beta of 1.18. The stock’s 50 day simple moving average is $31.71 and its two-hundred day simple moving average is $32.60. CarGurus, Inc. has a 12 month low of $26.39 and a 12 month high of $39.42.

CarGurus (NASDAQ:CARG) last posted its 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. The firm had revenue of $243.56 million during the quarter, compared to analysts’ expectations of $243.10 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities research analysts forecast that CarGurus, Inc. will post 2.11 EPS for the current year.

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.